CEA Nageswaran: No Surprises Expected on Inflation, Monsoon to Ease Rates
Chief Economic Adviser V Anantha Nageswaran foresees no unpleasant surprises in India’s inflation rate, which is anticipated to ease to 4 percent during the monsoon season. Nageswaran expressed optimism, predicting a potential GDP growth rate of 8 percent for FY24. On the growth beyond FY25, CEA Nageswaran said, there is a possibility of India growing between 6.5-7 per cent. Addressing the recent decline in net financial household savings, Nageswaran highlighted a notable shift towards real assets, reflecting changing investment preferences. Despite fluctuations in global economic conditions, Nageswaran remains confident in India’s ability to achieve non-inflationary growth, crediting investments in physical and digital infrastructure. He emphasized the importance of sustainable tax revenue growth, indicating a positive trend in tax-to-GDP ratios. Looking ahead, Nageswaran underscored the significance of monsoon patterns for economic performance, emphasizing the need for favorable...