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Centre confident of 7.5% growth by March 2018: Panagariya
June 02, 2017
Economic Adviser Arvind Panagariya on Friday said that India's economic
growth is expected to pick up to 7.5 per cent by March 2018, as the
government has sustained eight per cent growth rate over the next two
years.
"Lot of good things have happened in the presence of the
current Government. Inflation has come down nearly three percent,
Current Account Deficit (CAD) lowered around one percent and the growth
has restored," Arvind Panagariya said, while sharing the
future projections for the Indian economy.
"In terms of reforms,
the GST has been the biggest tax reform after
the Insolvency and Bankruptcy Act, which is very important for the
growth of the country," added Panagariya.
Adding to this he said
the address of the Non-performing assets by the govt. will see
substantial growth in the next few months.
Further to this, he
announced the launch programmes, which take place for the next few
months. He announced execution of two documents that will include the
action agenda for next three years, apart from the other documents that
will include the strategy and vision of the next 15 years of the
Government.
"Under the objective of Prime Minister Narendra Modi,
we are making an effort to bring about an agricultural marketing reform
to double the farmers income," he announced.
However, his
comments come days after the data that showed India's annual economic
growth slipping unexpectedly to 6.1 percent in the January-March
quarter, its lowest in more than two years.
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