Economy to grow more than 7% next fiscal: Das

Drawing on Finance Minister Arun Jaitley's statements, the secretary said there will be transient impact of demonetisation on the economy, but it will not spill over to the next fiscal.

Economy to grow more than 7% next fiscal: Das
For this year's GDP growth, we have to wait till March-end. But next year, it will be upwards of 7 per cent. Photo: IANS
Written By: PTI
Updated: Sat, Feb 04, 2017
12:56 pm
New Delhi, PTI
RELATED NEWS
Government pegs FY19 GDP growth at 7.2%: Which sectors will boost Indian economy? Government pegs FY19 GDP growth at 7.2%: Which sectors will boost Indian economy?
Nomura optimistic on India; sees GDP to grow by 7.7 pct in January-March Nomura optimistic on India; sees GDP to grow by 7.7 pct in January-March
India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch
First revised GDP estimates of FY15, FY16 and FY17 to be released today First revised GDP estimates of FY15, FY16 and FY17 to be released today

Stepping up the growth pitch, Economic Affairs Secretary Shaktikanta Das today expressed confidence that the economy will grow upwards of 7 per cent next fiscal.

"For this year's GDP growth, we have to wait till March-end. But next year, it will be upwards of 7 per cent," he said.

Drawing on Finance Minister Arun Jaitley's statements, the secretary said there will be transient impact of demonetisation on the economy, but it will not spill over to the next fiscal.

A large part of economy is moving towards digital transactions, he noted.

Despite the global headwinds, Das said India's growth remains much stronger.

"It has stayed afloat. Not only stayed afloat, but also doing well. Our commitment is to push growth momentum," he explained.

Listing various reforms measures as announced in the Budget, Das spoke of gains for farmers from integration of spot and derivative market in commodity.

He also dubbed announcement on contract farming and UGC as very big reforms.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.