November 30, 2021 8:06 PM

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India likely to have a double-digit growth this year: CEA Subramanian

<span style="color: #222222;">Chief Economic Advisor K V Subramanian has said that India is likely to have a double-digit growth this year. Briefing media, Mr Subramanian said, 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. He said, India is expected to grow at 6.5 to 7 per cent in 2022-23 and over 7 per cent thereafter. Mr Subramanian said, formal sector has emerged well from COVID crisis. He said, informal sector, even though it's been impacted, the nature of its production means that it will be less impacted. The CEA said, financial sector has emerged stronger and manufacturing sector shows that India in this decade should grow. He said, the cumulative annual growth rate between 2015-2019 has been higher for India than China in manufacturing gross value, merchandise exports and manufactured goods exports. Mr Subramanian said, fiscal deficit target of 6.8 per cent of GDP for current financial year likely to be met.</span>

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