Expressing optimism over India’s GDP performance in the second quarter, country’s Chief Economic Adviser (CEA) K V Subramanian on Tuesday said the Asia’s third-largest economy is expected to register double-digit growth in the current financial year, aided by rising demand and a robust banking sector.

He also said India is expected to grow at 6.5 to 7 per cent in 2022-23 and over 7 per cent thereafter.

“India is likely to have a double-digit growth this year; overall growth for the first half has been 13.7 per cent. So, even a little more than 6 per cent growth in the subsequent quarters should be able to deliver double-digit growth for this year; India's expected to grow 6.5-7 per cent in 2022

India's GDP growth soared by 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-COVID level, official data showed on Tuesday.

With regards to fiscal deficit, he said the Budget estimate is likely to be met.

Also read |<a href="https://www.wionews.com/india-news/india-grows-fastest-among-major-economies-gdp-expands-84-per-cent-in-second-quarter-433054">&nbsp;India grows fastest among major economies, GDP expands 8.4 per cent in second quarter</a>

The government estimates fiscal deficit at 6.8 per cent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022.

“Formal sector has emerged well from Covid crisis, informal sector, even though it's been impacted, the nature of its production means that it'll be less impacted. Financial sector has emerged stronger and manufacturing sector shows that India in this decade should grow,” said Subramanian, whose tenure ends on December 6.

“Compared to 2020, there has been a 38.3% increase in capital expenditure in the first half of 2021, which is noteworthy. Since capital expenditures are much higher this year, it's important to understand the inflation dynamics," he added.

(With inputs from agencies)

Expressing optimism over India’s GDP performance in the second quarter, country’s Chief Economic Adviser (CEA) K V Subramanian on Tuesday said the Asia’s third-largest economy is expected to register double-digit growth in the current financial year, aided by rising demand and a robust banking sector.

Expressing optimism over India’s GDP performance in the second quarter, country’s Chief Economic Adviser (CEA) K V Subramanian on Tuesday said the Asia’s third-largest economy is expected to register double-digit growth in the current financial year, aided by rising demand and a robust banking sector. He also said India is expected to grow at 6.5 to 7 per cent in 2022-23 and over 7 per cent thereafter. “India is likely to have a double-digit growth this year; overall growth for the first half has been 13.7 per cent. So, even a little more than 6 per cent growth in the subsequent quarters should be able to deliver double-digit growth for this year; India's expected to grow 6.5-7 per cent in 2022 India's GDP growth soared by 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-COVID level, official data showed on Tuesday. With regards to fiscal deficit, he said the Budget estimate is likely to be met. Also read | India grows fastest among major economies, GDP expands 8.4 per cent in second quarter The government estimates fiscal deficit at 6.8 per cent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022. “Formal sector has emerged well from Covid crisis, informal sector, even though it's been impacted, the nature of its production means that it'll be less impacted. Financial sector has emerged stronger and manufacturing sector shows that India in this decade should grow,” said Subramanian, whose tenure ends on December 6. “Compared to 2020, there has been a 38.3% increase in capital expenditure in the first half of 2021, which is noteworthy. Since capital expenditures are much higher this year, it's important to understand the inflation dynamics," he added. (With inputs from agencies)

India to register double-digit growth this year, says govt’s chief economic advisor

Economic Survey 2018-19 has been tabled in the Rajya Sabha. The Survey predicts Indian GDP to grow at the rate of 7 per cent per annum. According to the Survey, India needs to sustain a real GDP growth rate of 8% to achieve the objective of becoming a USD 5 trillion economy by 2024-25, as laid down by the Prime Minister Narendra Modi.

CEA KV Subramanian presents Economic Survey 2018-19

Chief Economic Adviser KV Subramanian will table the new <a href="https://www.wionews.com/opinions/narendra-modi-20-would-propel-affordable-housing-in-india-224832">Narendra Modi</a> government`s first Economic Survey in Parliament on Thursday.

"Looking forward with excitement to table my first and the new Government`s first - Economic Survey in Parliament on Thursday. #EcoSurvey2019" he tweeted on Tuesday.&nbsp;

The Economic Survey is an outlook of developments in the economy that is presented a day before the Union Budget.

The survey contains a summary of the performance on major development programmes, as well as the policy initiatives of the government and the prospects of the economy.

Subramanian was appointed as the Chief Economic Adviser in December last year, nearly six months after <a href="https://www.wionews.com/india-news/it-was-the-best-job-enriching-and-exciting-says-outgoing-cea-arvind-subramanian-145861">Arvind Subramanian</a> stepped down from the post at the end of his term owing to "pressing family commitments."

The first full-fledged budget of the Union Government will be tabled on Friday by Finance Minister Nirmala Sitharaman.

Chief Economic Adviser KV Subramanian will table the new Narendra Modi government`s first Economic Survey in Parliament on Thursday. "Looking forward with excitement to table my first and the new Government`s first - Economic Survey in Parliament on Thursday.

Chief Economic Adviser KV Subramanian will table the new Narendra Modi government`s first Economic Survey in Parliament on Thursday. "Looking forward with excitement to table my first and the new Government`s first - Economic Survey in Parliament on Thursday. #EcoSurvey2019" he tweeted on Tuesday. The Economic Survey is an outlook of developments in the economy that is presented a day before the Union Budget. The survey contains a summary of the performance on major development programmes, as well as the policy initiatives of the government and the prospects of the economy. Subramanian was appointed as the Chief Economic Adviser in December last year, nearly six months after Arvind Subramanian stepped down from the post at the end of his term owing to "pressing family commitments." The first full-fledged budget of the Union Government will be tabled on Friday by Finance Minister Nirmala Sitharaman.

Chief Economic Adviser KV Subramanian to table Economic Survey in Parliament

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India to register double-digit growth this year, says govt’s chief economic advisor

CEA KV Subramanian presents Economic Survey 2018-19

Chief Economic Adviser KV Subramanian to table Economic Survey in Parliament