India to log double-digit growth this fiscal: CEA KV Subramanian

KV Subramanian. Pic/KV Subramanian`s official Twitter account

Chief Economic Adviser (CEA) KV Subramanian said India is expected to log double-digit growth in the current financial year, aided by rising demand and a robust banking sector.

He also said the seminal second-generation reforms would help the country grow over 7 per cent during this decade. India's GDP growth stood at 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-Covid-19 level, official data showed on Tuesday. With regard to fiscal deficit, he said the Budget estimate is likely to be met.

The government estimates a fiscal deficit at 6.8 per cent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022.

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