PTI
India’s economic growth momentum will continue in the October-December quarter and the economy is poised to comfortably clock a 6.5 per cent growth rate for the full fiscal underpinned by investment and consumer momentum, Chief Economic Advisor V Anantha Nageswaran said on Thursday.
He said India is “underestimating” its GDP growth while forecasting a 6.5 per cent expansion for the full fiscal as is evident from the tax buoyancy that the country is witnessing on the back of high tax revenue collection due to strong corporate and bank balance sheet.
“…When you have a tax buoyancy which is as high as 1.9 or close to 2, which is historically unprecedented, then it is quite possible that we are not measuring the economy’s underlying momentum… We will keep the GDP growth estimate for the full fiscal at 6.5 per cent but we are more comfortable (with the projection) than before.
