Economy To Grow By 6.5-7% From 2022-23: Chief Economic Advisor

The country's economy will start witnessing a growth of 6.5 to 7 per cent from fiscal 2023 onwards, Chief Economic Advisor Krishnamurthy Subramanian said.

The country's economy will start witnessing a growth of 6.5 to 7 per cent from fiscal 2023 onwards, helped by various reforms undertaken by the government so far and also as COVID-19 vaccination drive progresses, Chief Economic Advisor Krishnamurthy Subramanian said. He expects the impact of the second wave not to be very significant. The country's economy contracted by 7.3 per cent in fiscal 2020-21. “Together with the reforms and focus on vaccination, I expect growth to start hitting close 6.5 to 7 per cent from FY23 onwards and accelerate from there on,” Subramanian said at a virtual event organised by Dun & Bradstreet. “Given the significant reforms that have been done over the last one and a half years, I have no hesitation in saying that I look forward to a decade of high growth for India.” He said the momentum in recovery that was seen in the fourth quarter of FY21 and overall in the second half of FY21 got impacted to some extent by the second wave of COVID-19.