scorecardresearch
Follow Us:
Monday, September 27, 2021

India saw V-shaped recovery: CEA

India is the only country that has registered two consecutive quarters of growth, said Chief Economic Adviser KV Subramanian.

By: ENS Economic Bureau | Mumbai |
July 30, 2021 4:00:17 am
economic survey, economic survey 2020, economic survey 2020 20, economic survey 2020 live, economic survey 2020 india, economic survey of india, economic survey 2020 20 pdf download, budget, budget 2020, budgets session, parliament, parliament live, parliament live today, parliament budget session 2020, parliament live, lok sabha tv live, live lok sabha tv, economic survey live, economic survey pdf download, economic survey highlights, india economic surveyCEA KV Subramanian (File)

Chief Economic Adviser (CEA) KV Subramanian on Thursday said last year the country had a V-shaped recovery. Looking at the last four quarters’ numbers during the Covid pandemic, India is the only country that has registered two consecutive quarters of growth, he added.

India should be able to hit high growth rate through higher investment rate and more productivity from privatisation and increase in exports. “This decade will be a decade of really high growth for India,” he said, adding growth in fiscal 2023 is expected to be between 6.5 per cent and 7 per cent and accelerate, thereafter, to 8 per cent, with the combination of rise in investment and productivity.

Addressing the Ficci Capital Market Conference, Subramanian said: “It shows the resilience of the Indian economy which has led to the V-shaped recovery. In the fourth quarter as well, the emphasis is on capital expenditure which is one of the key aspects of our policy initiative because a capex driven growth leads to sustained growth. The government has also taken steps for the sectors impacted by the pandemic.”

On inflation, the CEA said the overall restrictions during the second wave were very less allowing supply chain to work smoothly. “Going forward, inflation should be range bound despite some rise in commodity prices,” he added.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement