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"]


Please enter your comment!
Please enter your name here


Trending News

President Droupadi Murmu and PM Narendra Modi Pay Homage to Mahatma Gandhi on 154th Gandhi Jayanti

India celebrated the 154th Gandhi Jayanti today, and the nation's top leaders, President Droupadi Murmu and Prime Minister Narendra...

Air pollution Killing Millions of People every year globally: Biggest Enemy of Humans

In an alarming revelation, the World Health Organization (WHO) has declared that air pollution has evolved into a global...

NASA’s Stunning Video Reveals the Expansion of a Star’s Supernova Remnant

In a captivating display of celestial wonder, NASA's Hubble Space Telescope shared a mesmerizing time-lapse video on its Instagram...

Kangana Ranaut Unveils Teaser for Upcoming Film ‘Tejas’ on Gandhi Jayanti

On the occasion of Gandhi Jayanti, Bollywood actress Kangana Ranaut and the film production company RSVP Movies delighted fans...