The top economic adviser to Prime Minister Narendra Modi Monday became the first among the serving policy advisers to cast doubt on India’s economic growth of 7% this year as projected by the government. Chairman of Prime Minister’s Economic Advisory Council (PMEAC) Bibek Debroy said India’s economy this year could barely grow at 6% and not 7%, given where the things stand now.
“If one contrasts 2017-18 with 2018-19, there have been no remarkable changes in the growth components of consumption, government expenditure, investments and net exports…. As things stand now, a little less than 6% in the first half of 2019-20, are not unlikely. In other words, 6% in 2019-20, not 7%,” he said in a write-up published in Economic Times.
Debroy further said that to achieve an objective of $5 trillion economy, the 8% required growth computed by the Economic Survey becomes elusive.…
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