Chief Economic Advisor V Anantha Nageswaran said on Monday that India's potential GDP growth is in the range of 6.5-7 per cent. He expressed hope that the country should be able to achieve this based on the work already done in the last 10 years. The Economic Survey has projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the previous fiscal year, PTI reported.
Emphasis given to investment areas
According to the news, the Chief Economic Advisor at IVCA's GreenReturns Summit said that India's potential GDP growth is in the range of 6.5-7 per cent and it should be able to achieve this, be it in terms of enhancing physical infrastructure. Be it or in terms of achieving financial inclusion. Emphasizing on investment areas, he said that we all are aware of the issue of intermittent development.
Investments should not focus on
Nageswaran said investment should not be focused on setting up solar power plants or wind power plants as we need to take into account the rising cost of recycling solar panel waste and wind turbine waste. This is an area to invest in. India has 45 years to balance to meet its commitment to achieve net-zero carbon emissions by 2070, he said, noting the complex challenge of balancing strong economic growth with the urgent need for environmental sustainability. He also shared current strategies and steps and urged for adopting a collaborative approach.
Earlier, Chief Economic Advisor (CEA) V Ananth Nageswaran had described GDP growth of 5.4 percent in the second quarter as disappointing. However, he had said that despite this, the economic growth estimate of 6.5 percent for the current financial year is not in danger. It was estimated in the Economic Review that the country's gross domestic product (GDP) will grow at the rate of 6.5-7.0 percent in the financial year 2024-25. This is less than the rate of 8.2 percent in the last financial year.
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