Economy On Track To Achieve 6.8-7 Per Cent Growth In FY23: CEA V Anantha Nageswaran
ABP NewsThe Indian economy is on track to achieve 6.8-7 per cent GDP growth in this financial year, said Chief Economic Advisor V Anantha Nageswaran, on Wednesday. Nageswaran's comments came after the latest data showed India's GDP growth more than halved to 6.3 per cent in July-September. In 2022-23, the economy is on track to achieve 6.8-7 per cent growth,” Nageswaran said. On global agencies’ projections on Indian economic growth, India’s top economist explained, “India’s growth as estimated by most global agencies is based on the recent data of 2019-2020, and then 2021 onwards continues to rely on the lower capital formation… The fact that both financial and non-financial sectors have improved their balance sheets is not well factored in agencies’ forecasts… Besides, digital infrastructure has also played an important role in formalising the economy and providing better financial access to many excluded sectors -- that too is not accounted for.” While the RBI estimated economic growth at 7 per cent, the IMF had projected the Indian economy to grow at 6.8 per cent in FY23.