This decade will be India’s decade of inclusive growth during which it will clock over 7 per cent annual growth on the back of strong economic fundamentals, Chief Economic Adviser K V Subramanian has said, highlighting the country’s reform process and its ability to convert the crisis into an opportunity that helped it to stand out from the rest of the world.
Exuding confidence over India’s economic potential, Subramanian told an American audience from the corporate sector that “the fundamentals of the economy were strong, even before the pandemic. There were only financial problems.”
“Mark my words, this decade will be India’s decade of inclusive growth. In FY’23, we expect growth to be between 6.5 to 7 per cent and then accelerating further as the impact of these reforms is seen,” he said while addressing a virtual event organised by the US-India Strategic Partnership Forum (USISPF) on Wednesday.
“On average, I expect growth to be greater than 7 per cent in this decade for India,” Subramanian said.
During the current fiscal, he said, growth would be in double-digits and it could moderate to 6.5 – 7 per cent in the next financial year.