The Indian Economy will grow at over seven per cent, down from above eight percent growth rate projected in January this year, said Chief Economic Advisor V Anantha Nageswaran on Tuesday at GFF2022 in Mumbai, according to a PTI report.
India is well poised to sustain the 7 per cent growth per year during the remainder of the decade as well, Nageswaran said.
“India’s own growth rates have come off the projections made in January down to about 7 plus per cent for the current financial year, said Nageswaran while speaking at the GFF event in Mumbai.
However, he said that the economic momentum and the animal spirits are “unmistakable.”
“I am taking 6 per cent as a very easily attainable growth rate and I am adding 0.5 per cent from the capex boom and another 0.5 per cent come from the fact that digital public infrastructure which we have created,” he said.
Nageswaran said the World is still grappling with the effects of Covid pandemic and the ongoing war in Europe triggered by Russian’s invasion of Ukraine and suggested that these factors are hampering growth.
