Indian economy to grow at double-digits this fiscal: CEA Subramanian
- IBEF
- November 15, 2021
Chief economic advisor Mr. K V Subramanian stated that Indian economy is expected to see a double-digit growth in 2021-22 and between 6.5-7% in the next financial year.
Mr. K V Subramanian stated that he does not anticipate commodity inflation will taper the V-shaped recovery going ahead.
India's growth forecast had been capped between 8.7-9.4% by IMF and other institutions.
Mr. Subramanian believed that people usually do not take into consideration the impact of substantial reforms that were done, even in 1991 reforms were done, 99% people did not realise implications. “We have done decisive reforms actually which will be understood going ahead.”
He said inflation is 4.5% and global inflation is soaring due to global policies that have only concentrated on demand in contrast to India's policies that are clearly focused on boosting supply.
“When you focus on only improving demand without supply measures inflation is what outcomes. Indian policy has displayed clear transformation with the global financial crisis when India did only took demand side measures without supply side interventions that's why we had double digit inflation despite without lockdown and night curfews every month for one and half years,” Mr. Subramanian added further.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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