India on track to achieve 6.8-7% GDP growth this fiscal: CEA

The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, Chief Economic Advsior V Anantha Nageswaran said on Wednesday.

He said the economic recovery momentum is continuing and the GDP is averaging the 2019-20 level.

"In 2022-23, the economy is on track to reach a 6.8-7 per cent growth in the current fiscal," he said, adding festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds.

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The IMF has projected Indian economy to grow at 6.8 per cent this fiscal, while the RBI has pegged it at 7 per cent.

India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, as against 8.4 per cent in the same period 2021-22.

India's economy grew by 9.7 per cent growth in the first half (April-September) of this fiscal.