India Poised for World-Beating Growth, Government Adviser Says
- Nageswaran says GDP to grow 6.5%, CPI will return to 4%
- Monsoon, geopolitical shocks could pose some risks for economy
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India’s strong credit demand and softening crude oil prices could buoy the economy, putting the South Asian country on course for a 6.5% expansion this fiscal year, according to a top adviser to the Finance Ministry.
These indicators together with an uptick in construction activity may shield the economy from slower global growth and weather-related risks, Chief Economic Adviser V Anantha Nageswaran said in an interview at his New Delhi office.