The Indian economy is poised to do better and is expected to grow 6.5-7 per cent in the remainder of the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday.Addressing reporters after the tabling of the Economic Survey in Parliament by Finance Minister Nirmala Sitharaman, Nageswaran said that by and large, inflation is likely to be “well behaved” in FY2023-24 barring headwinds.Nageswaran pointed out that the quality of public expenditure has gone up and the government has become more transparent with budget deficit numbers.There is increased transparency in public procurement, he added.The CEA also said credit growth is picking up across sectors, and credit to MSMEs has grown at 30 per cent since January 2022, while NPAs in NBFCs is lower than what it was 15 months ago.The Economic Survey, which has been prepared by the CEA, stated that RBI’s projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest.

Related Topics