India can regain 7% growth by FY28: Chief Economic Advisor V Anantha Nageswaran
GS3Economy · S&T · Environment · Security· Growth, inflation & macro indicators· Prelims + Mains·
Why in news
Chief Economic Advisor V Anantha Nageswaran projected India's GDP growth at 7% by FY28, while the RBI lowered its FY27 forecast to 6.6% due to global disruptions.
Background
V Anantha Nageswaran, Secretary of the Indian Ministry of Finance, projected a 7% GDP growth for FY28. The RBI lowered its FY27 GDP forecast to 6.6% citing higher energy prices and supply disruptions from the Iran war.
Facts for Prelims
- FactRBI projected GDP growth for FY27 at 6.6%
- FactMinistry of Finance projected GDP growth for FY28 at 7%
- PostV Anantha Nageswaran is the Chief Economic Advisor and Secretary of the Indian Ministry of Finance
- FactGrowth projections assume a return to pre-February 2023 global conditions
For Mains
Q. Analyze the factors influencing India's economic growth trajectory amidst global supply chain disruptions and fluctuating energy prices.
Dimensions to cover in your answer
- External vulnerability: Sensitivity of domestic growth to global energy price volatility and geopolitical conflicts
- Structural drivers: Impact of government infrastructure investment and structural reforms on long-term GDP trajectory
- Demand resilience: Balancing domestic consumption strength against inflationary risks and climate-induced supply shocks
Keywords: GDP growth · structural reforms · supply chain disruptions · domestic demand · fiscal policy · global uncertainty
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