India poised for stronger growth on structural reforms, govt capex push: CEA KV Subramanian

By Nick J Adam On Aug 31, 2021

India’s macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government’s capex push and rapid vaccination, Chief Economic Advisor KV Subramanian said on Tuesday. Briefing media on the growth number, he said the GDP data for the first quarter reaffirms the government’s prediction of an imminent V-shaped recovery made last year.

India’s economic growth surged to 20.1 per cent in the April-June quarter of this fiscal, helped by a low base in the year-ago period, amid a devastating second wave of the COVID-19.

The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21, according to data released by the National Statistical Office (NSO) on Tuesday.

On the inflation, he said it has witnessed a moderation in July compared to the previous month.

“Our expectation is that the inflation in the next few months should be within that range, between 5-6 per cent, but less than 6 per cent” despite hardening global commodity prices, he said.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Education News Click Here

For the latest news and updates, follow us on Google News.

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.