New Delhi: Macroeconomic fundamentals in India are much stronger, and this country is all set for strong growth in the back of structural reform, push push and fast vaccination, Head of Economic Advisor (CEA) KV Subramanian said on Tuesday.
Media briefing on growth numbers, he said GDP data for the first quarter reaffirmed the government’s predictions about V-shaped recovery that would occur last year.
India’s economic growth jumped to 20.1 percent in the April-June Fiscal quarter, assisted by a low base in the period last year, in the midst of the second wave which destroyed Covid-19.
Gross domestic product (GDP) has been contracted by 24.4 percent in the April-June quarter which matches 2020-21, according to data issued by the National Statistics Office (NSO) on Tuesday.
On inflation, he said he had witnessed moderation in July compared to the previous month.
“Our hope is that inflation in the next few months must be in that range, between 5-6 percent, but less than 6 percent” even though the hardening of global commodity prices, he said.