New Delhi,
\nAchieving a double-digit economic growth for India in current global scenario is difficult but the country is on path to clock 8 per cent plus expansion by 2020-21, a top finance ministry official said.<\/p>\n
In his budget speech on February 1, Finance Minister Arun Jaitley said India is firmly on course to achieving over 8 per cent growth and becoming the world\u2019s fifth largest economy.<\/p>\n
The country has recorded an average growth rate of 7.5 per cent in the first three years of the Modi government.<\/p>\n
\u201cWhat we are projecting is, this year second half will have a growth higher than 7 per cent. Next year, 7-7.5 per cent average growth rate has been projected.<\/p>\n
\u201cThat would mean that there would be some quarters where growth might exceed 8 per cent. So we might see some 8 per cent plus growth quarter next fiscal,\u201d Subhash Chandra Garg, the Department of Economic Affairs Secretary (DEA) told PTI.<\/p>\n
The secretary further said that in 2020-21 \u201cIndia should\u201d be able to grow at about 8 per cent.<\/p>\n
When asked by when India could move into a double digit growth trajectory, Garg said it is difficult as the growth in the global economy is not that high.<\/p>\n
Global growth is 3.5-4 per cent, he said.<\/p>\n
\u201cYou need to grow exports quite a lot to think of 10 per cent (of growth). Exports growth depends upon the ability of the global economy to absorb imports.<\/p>\n
\u201c10 per cent to my mind, is not a realistic estimate. I think 8 per cent plus if we can grow, that could be a decent growth,\u201d he said.<\/p>\n
The GDP growth of 6.3 per cent in the July-September quarter of the current fiscal signalled a turnaround of the economy. The growth had slipped to a three-year low of 5.7 per cent in the first quarter of the current fiscal.<\/p>\n
As per the estimates of Central Statistics Office (CSO), the Indian economy is expected to grow at 6.5 per cent in the current fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, Achieving a double-digit economic growth for India in current global scenario is difficult but the country is on path to clock 8 per cent plus expansion by 2020-21, a top finance ministry official said. In his budget speech on February 1, Finance Minister Arun Jaitley said India is firmly on course to achieving […]<\/p>\n","protected":false},"author":1,"featured_media":21023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-21022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/21022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=21022"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/21022\/revisions"}],"predecessor-version":[{"id":21024,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/21022\/revisions\/21024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/21023"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=21022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=21022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=21022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}