Festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds, Chief Economic Advisor V. Anantha Nageswaran said.
| Photo Credit: The Hindu
The Indian economy is on track to achieve a 6.8-7% GDP growth in the current fiscal, Chief Economic Advisor V. Anantha Nageswaran said on November 30.
He said the economic recovery momentum is continuing and the GDP is averaging the 2019-20 level.
“In 2022-23, the economy is on track to reach a 6.8-7% growth in the current fiscal,” he said, adding festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds.
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The IMF has projected Indian economy to grow at 6.8% this fiscal, while the RBI has pegged it at 7%.
India’s economic growth slowed down to 6.3% in the July-September quarter of this fiscal, as against 8.4% in the same period 2021-22.
India’s economy grew by 9.7% growth in the first half (April-September) of this fiscal.
