India to experience double-digit growth this fiscal year: Cea

On November 30, Chief Economic Advisor (CEA) KV Subramanian said India is expected to post double-digit growth in the current fiscal year, supported by growing demand and a robust banking sector. He also said fundamental second-generation reforms would help the country grow by more than 7% in this decade.

India’s GDP growth stood at 8.4% in the second quarter of 2021-2022, with the economy surpassing the pre-COVID level, according to official data released on November 30.

Regarding the budget deficit, he said the budget estimate is likely to be met. The government estimates the budget deficit at 6.8% of gross domestic product (GDP) for the current fiscal year ending March 31, 2022.


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