HomeEconomyEconomy will see 9.5 per cent growth in current fiscal: former CEA...

Economy will see 9.5 per cent growth in current fiscal: former CEA Arvind Virmani

New Delhi: Former Chief Economic Advisor Arvind Virmani has said that the Indian economy is expected to register a growth of 9.5 per cent in the current financial year.

Mr. Virmani while addressing a virtual event organised by PHD Chamber of Commerce and Industry (PHDCCI) said that the government expenditure and exports have peaked, but till now the private consumption has not recovered due to the COVID – 19 pandemic.

“The current financial year’s growth will be higher and closer to 9.5 per cent. And this decade’s (FY21- FY30) average growth will be 7.5 per cent plus or minus 0.5 per cent, he said.

Meanwhile, the RBI has lowered the growth projection for the current financial year to 9.5 per cent, while the International Monetary Fund (IMF) has projected a growth of 9.5 per cent in 2021 and 8.5 per cent in 2022.

Mr. Virmani stressed that the Micro Small and Medium Enterprises (MSME) are critical for inclusive growth and that modern MSMEs should have complete opportunities to compete with the corporate sector.

[responsivevoice_button buttontext="Listen This Post" voice="Hindi Female"]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Trending News

Modi and Trump Seal Defense Deals, Approve 26/11 Suspect’s Extradition and Trade Boost

Prime Minister Narendra Modi and US President Donald Trump held talks on Thursday at the White House, unveiling a...

Isaac Newton 1704 Letter Predicted World Ending in 2060

Isaac Newton, the famed physicist known for his laws of motion and gravity, made an apocalyptic prediction in 1704,...

NASA Reveals Rare Space Photo of Mount Everest

NASA has released a rare photograph of Mount Everest taken from space during the space shuttle Columbia’s STS-80 mission...

President Rule Declared in Manipur After Ethnic Violence, Assembly Suspended

President’s Rule has been imposed in Manipur following the resignation of Chief Minister N Biren Singh on February 9....