Indian GDP at 6.1% in Q4: Chief Economic Advisor Nageswaran optimistic about growth

India’s Chief Economic Advisor V Anantha Nageswaran has said that he remains optimistic about the country’s economy after National Statistics Office (NSO) released India’s GDP projections for Q4 FY23 on Wednesday. Talking to reporters, Nageswaran said that the Indian economy’s “soft landing” has already happened. Also read: Know how India remains the fastest growing economy in world with GDP at 6.1% in Q4 FY23 “We are prepared to stick our neck out one more time and say that the risks to 6.5 percent (GDP growth forecast for 2023-24) are probably more evenly balanced – that is, there is as good a chance that this number may be exceeded as there is a chance that the reality may undershoot this number,” Nageswaran said. Nageswaran had predicted a GDP growth of 6.5 per cent for 2023-24 at the 2022-23 Economic Survey tabled in the Parliament on January 31.

"We are seeing a strong recovery in rural demand," said CEA V Anantha Nageswaran

Read on 👇 https://t.co/YRo5Hv60Y1#GDP #CEA #AnanthNageswaran pic.twitter.com/D9U15ZtADL

— Moneycontrol (@moneycontrolcom) May 31, 2023

India has outdone its own GDP projections in Quarter 4 of FY23 to reach a whopping 6.1 per cent as compared to the growth witnessed in Q3 which stood at 4.4 per cent. According to data released by the National Statistical Office, India’s economy will see an overall growth of 7.2 per cent in FY23. The country has witnessed steady growth among some of the fastest-growing economies including China and the US. Nageswaran’s bullishness is in tune with the Reserve Bank of India. According to Moneycontrol, RBI Chief Shaktikanta Das said last week that he would not be surprised to see 2022-23 GDP figures grow past the statistic ministry’s estimate of seven per cent. The chief economic advisor also said that he is confident about India’s domestic inflation trajectory, saying that “there s a very high chance that headline retail inflation will come close to the RBI’s medium-term target of 4 percent in 2023-24.” He said, “The monetary policy tightening, therefore, didn’t have to become extreme and that is what in a way paves the way for a ‘soft landing’ which has already happened and augurs well for growth prospects in the current financial year.” Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook_,_  Twitter and  Instagram_._