Economy to grow at over 7%, says Chief economic adviser V Anantha Nageswaran

Mumbai, September 20

Chief economic adviser V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7%, down from above 8% of growth rate projected in January. He, however, said the economic momentum and the animal spirits are “unmistakable”.

“India’s own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year,” he said at the Global Fintech Fest event here.

He said the world is still undergoing the aftereffects of Covid and the ongoing Russia-Ukraine war, suggesting that these factors are hurting growth. He said the government is moving from financial inclusion to financial empowerment and the focus in the decade to 2030 is on helping people access financial services like credit and insurance using the base of the accounts opened earlier.