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India's robust digital infrastructure can push GDP, says Chief Economic Adviser
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IANS | 31 Jan, 2023
Chief Economic Adviser V. Anantha Nageswaran on Tuesday said that
digital investments will mainly drive the country's growth, as they
would act as "growth magnet" in the near future.
Addressing
a press conference after the release of the Economic Survey for
2022-23, Nageswaran said India's robust digital infrastructure has the
potential of adding around up to 100 basis points to India's GDP rate.
On
the Economic Survey, which was tabled in Parliament by Finance Minister
Nirmala Sitharaman earlier in the day, Nageswaran said that India is
set to perform in this decade owing to the reforms unleashed by the
government in the last eight years.
"Reforms of the last eight
years spanning multiple dimensions including digital, social and
physical infrastructure were happening even as banking clean up was
going on," he said.
He also said that India's post-pandemic
basic economic recovery is complete and the non-banking and corporate
sectors have shown good financial health.
On GDP numbers,
Nageswaran showed optimism that the Indian economy is set to grow faster
once the global shocks of pandemic and Russia-Ukraine war recede.
"In
its World Economic Outlook update, the IMF has maintained India's GDP
forecast for current FY at 6.8 per cent, next FY at 6.1 per cent, and
for 2024-25 at 6.8 per cent. Recovery of the economy is complete," he
said.
Nageswaran further said that the quality of public
expenditure has improved and the government has maintained transparency
in public procurement.
"Various such dimensions have led to improved expenditure management," he added.
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