'Omens are good for us': CEA Anantha Nageswaran sees steady growth rate of 6.5-7% for rest of decade beyond FY25
==========
The Chief Economic Advisor (CEA) of the Indian government, V Anantha Nageswaran, is optimistic about the country's economic growth. He believes that the economy may have grown at over 8% in FY24 and could expand at 7% or more in the current fiscal year. The growth rate will depend on the monsoon and its spatial and temporal distribution. The CEA expects the economy to continue growing at a steady rate of between 6.5% and 7% for the rest of the decade beyond FY25. He emphasized that investments in physical and digital infrastructure have put the economy in a better position to pursue non-inflationary growth. The CEA also highlighted the need to convert impediments into opportunities for growth, such as deregulating compliances and inspections, investing in skilling, and focusing on the health of the young demography. The World Bank and think tank NCAER are also optimistic about India's growth prospects, with the World Bank likely to upgrade its GDP growth estimate for FY25. The World Bank Country Director for India, Auguste Tano Kouamé, stated that signs are quite good for India's growth. Poonam Gupta, Director General of NCAER, expects GDP growth in FY25 to be over 7% and believes that the Indian economy has become more resilient to shocks.
#IndianEconomy #EconomicGrowth #ChiefEconomicAdvisor #GdpGrowth #Monsoon #Infrastructure #Inflation #WorldBank #Ncaer
https://www.businesstoday.in/latest/economy/story/omens-are-good-for-us-cea-anantha-nageswaran-sees-steady-growth-rate-of-65-7-for-rest-of-decade-beyond-fy25-428792-2024-05-08
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2024-05-08 12:53:32
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2024-05-08 12:53:32Event JSON
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"content": "'Omens are good for us': CEA Anantha Nageswaran sees steady growth rate of 6.5-7% for rest of decade beyond FY25\n==========\n\nThe Chief Economic Advisor (CEA) of the Indian government, V Anantha Nageswaran, is optimistic about the country's economic growth. He believes that the economy may have grown at over 8% in FY24 and could expand at 7% or more in the current fiscal year. The growth rate will depend on the monsoon and its spatial and temporal distribution. The CEA expects the economy to continue growing at a steady rate of between 6.5% and 7% for the rest of the decade beyond FY25. He emphasized that investments in physical and digital infrastructure have put the economy in a better position to pursue non-inflationary growth. The CEA also highlighted the need to convert impediments into opportunities for growth, such as deregulating compliances and inspections, investing in skilling, and focusing on the health of the young demography. The World Bank and think tank NCAER are also optimistic about India's growth prospects, with the World Bank likely to upgrade its GDP growth estimate for FY25. The World Bank Country Director for India, Auguste Tano Kouamé, stated that signs are quite good for India's growth. Poonam Gupta, Director General of NCAER, expects GDP growth in FY25 to be over 7% and believes that the Indian economy has become more resilient to shocks.\n\n#IndianEconomy #EconomicGrowth #ChiefEconomicAdvisor #GdpGrowth #Monsoon #Infrastructure #Inflation #WorldBank #Ncaer\n\nhttps://www.businesstoday.in/latest/economy/story/omens-are-good-for-us-cea-anantha-nageswaran-sees-steady-growth-rate-of-65-7-for-rest-of-decade-beyond-fy25-428792-2024-05-08",
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