New Delhi: India’s economy is expected to grow by 10 percent or more in the current fiscal, and 8 percent plus in the next fiscal year, said Chairman of the Deputy Niti Aayog Rajiv Kumar on Tuesday.
Overcoming the book launch event, Kumar further said that the seven years of the MOD government had put a strong economic foundation for businesses to develop in India.
“There was a hiccup (in economic growth) for two years because of Covid-19 pandemic.
The IMF has projected a growth of 9.5 percent in 2021.” According to the IMF, India will be a big economy that grows the fastest for the next one.
five years.
This is a remedial, “said Kumar.
The Reserve Bank of India (RBI) has reduced growth projections for the current financial year to 9.5 percent of the 10.5 percent estimated temporary IMF has projected growth of 9.5 percent by 2021 and 8 , 5 percent the following year.
“India will grow at 10 percent plus in the current fiscal year (2021-22).
And forward, once we come out of the Covid-19 pandemic, we (Indian economy) will grow at 8 percent plus at FY 2022-23, “Kumar said.” Things that change and people are ready to invest in India, “he said.
Deputy Chairperson of Niti Aayog said the potential of India’s growth rate would increase by 8 percent.
Last month, the International Monetary Fund (IMF) has revised the potential of Indian growth down to 6 percent quotes a pandemic.
Potential growth is a level of growth that can be maintained by the middle economy without generating excess inflation.
The country’s economy grew with a record of 20.1 percent in the April-June quarter, assisted by a very weak base last year and a.
Sharp rebounds on The manufacturing and service sector apart from the second covid wave destroyed.
Kumar said Indians are now getting a better job.
Deputy Chairperson of Niti Aayog said that during the last 18 months, CMIE (Indonesian monitoring center) was shown an increase in CR Eation work, while EPFO ​​data And PLFs have shown the creation of new jobs.
Kumar, however, acknowledged Bahw A work may not come at the level of “we want”.
He said in seven years the MOD government, 485 government schemes have been brought based on direct benefit transfers (DBT).
“Rs 5.72 lakh crore has been transferred through DBT,” Kumar said.
Kumar said the period of pregnancy of reform in India was 7 years.
“The period (pregnancy) has been reduced during the mode administration,” he said.