Econ­omy May Grow Over 8% in FY17: Panagariya

The Economic Times - - Economy: Macro, Micro & More -

The econ­omy is ex­pected to grow over 8% this fis­cal with the fore­cast of above-nor­mal mon­s­son rais­ing hopes of the agri­cul­ture sec­tor's re­vival af­ter two suc­ces­sive drought years, Niti Aayog vice-chair­man Arvind Panagariya said on Tues­day.

“The eco­nomic growth rate will be more than 8% dur­ing the cur­rent fis­cal. There is a fore­cast of abovenor­mal mon­soon this fis­cal,” Panagariya said af­ter de­liv­er­ing a lec­ture or­gan­ised by the Cen­tral Vig­i­lance Com­mis­sion here. He said the eco­nomic growth in the cur­rent fis­cal could be even higher in view of pol­icy and mon­e­tary in­ter­ven­tions by the govern­ment and the Re­serve Bank of In­dia, which will ul­ti­mately push the slug­gish in­dus­trial growth.

Fi­nance Min­is­ter Arun Jait­ley had also ex­pressed hope that good rains will pro­pel In­dia’s eco­nomic growth to 8.5% dur­ing the cur­rent fis­cal, higher than Cen­tral Statis­tics Of­fice ad­vance es­ti­mates of 7.6% for 2015-16.— PTI

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.