Chief Economic Advisor V Anantha Nageswaran: V. Anantha Nageswaran, Chief Economic Advisor of the Union Ministry of Finance, has given a big statement on Tuesday. Ananth Nageswaran said that due to the reforms of the central government, the Indian economy is ready to perform better. Along with this, the economic growth rate is expected to remain between 6.5 to 7 percent in the remaining period of this decade.
Inflation will be under control
Nageswaran discussed with the media after Finance Minister Nirmala Sitharaman presented the Economic Review in Parliament. In this conversation, he said that barring adverse challenges in the financial year 2023-24, overall inflation is expected to remain within the range. He said that I believe that in view of the uncertainties in the global economy, the GDP growth rate will be between 6.5 to 7 percent in the remaining period of the decade, regardless of the export prospects.
Tremendous increase in FDI
The Chief Economic Advisor (CEA) said that FDI inflow in FY2022 was $ 21.3 billion, which was 76 percent more than FY2021. Indian pharmaceutical exports have registered a growth of 24 per cent in FY2021. Cumulative FDI in the pharma sector by September 2022 has crossed the $20 billion mark.
getting ready for the next step
He said that now we do not have to talk about recovering from the Corona Pandemic. He said that, we have to look towards the next phase. The central government is moving towards 6.4 per cent fiscal deficit. Gross tax revenue has increased by 15.5 percent from April to November 2022. Also, the country’s GDP in 2021-22 was 8.7 percent. In the economic survey, it was said that there was a tremendous jump in the loans given to the MSME sector. MSMEs have been given 30.5 percent more loans between January and November 2022.
This target was kept for the export sector
The Chief Economic Advisor (CEA) said that the export sector is capable of achieving an economic growth rate of 8 percent. There is reason for the government to look at 8 per cent or 9 per cent growth rate. In the first decade, the global economy was growing rapidly and now it is in a phase of slowdown.
The inputs in this news have been taken from the language…
read this also – Core Sector Growth: The production of these 8 core sectors increased by 7.4 percent in the month of December, the highest in three months
