GDP Growth to top 8% on Rains

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Niti Aayog Vice-Chairman Arvind Panagariya has said that a good monsoon, reforms and timely decision making by the Central Government will definitely push India’s growth beyond the 8 per cent mark in subsequent quarters of this fiscal, as per the media reports. Commenting on the matter, Panagariya said, quoted PTI that, “I am confident that it (GDP no.) will be over 8 per cent in subsequent quarters (this fiscal).” 

 

Panagariya further added that, “This will happen because there will be impact of reforms also (besides a good monsoon). We still have not seen (the impact of reforms). There were serious governance issues earlier. Projects were stuck. The decisions were not taken at the Centre.” During the April-June quarter, country’s growth rate dragged down to a six-quarter low of 7.1 per cent on the back of subdued performance of mining, construction and farm sectors. 

 

It was 7.9 per cent in January-March quarter. While, Indian economy expanded by 7.5 per cent in the April-June quarter of previous year.