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

Study Links UFO Sightings to Environmental Factors

Unexplained Aerial Phenomena (UAP), commonly known as UFOs, have intrigued and puzzled sky watchers for decades. While previous investigations...

Navigating the Global Crisis of Alzheimer’s Disease: Unraveling Complexities and Seeking Solutions

Alzheimer's disease, a relentless neurological condition, poses an escalating global challenge, with an ever-expanding number of individuals affected. Currently,...

Reproductive Marvels of the Giant Antarctic Sea Spider: Unveiling a Mysterious Strategy in the Icy Waters of Antarctica

In the icy waters of Antarctica lurks an entire mysterious ecosystem. There, scuttling across the seafloor on spindly little...

China Announces Territorial Sea Baseline in Beibu Gulf, Advancing Boundary Clarification

China has taken a significant step in clarifying its maritime boundaries by announcing the baseline of the northern part...