NEW DELHI: Chief Economic Adviser (CEA) KV Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms.
The CEA also said the country is well poised to meet the fiscal deficit target of 6.8 percent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
The government estimates fiscal deficit at 6.8 percent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022. Subramanian added, "India is likely to have doubledigit growth this year. The overall growth for the first half has been 13.7 percent, so even a little more than 6 percent growth in the subsequent quarters should be able to deliver double-digit growth for this year."