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Incorrect to say India on 5 percent growth trajectory: PM Modi’s economic advisor Bibek Debroy
Bibek Debroy said there have been instances in the past when GDP growth fell below 5 per cent during a quarter, but recovered to 7 per cent in the very next quarter.
Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy on Friday it would be incorrect to conclude that India is on a 5 percent growth trajectory on the basis of just one quarter’s GDP print.
The GDP growth in the April-June quarter of the 2019- 20 fiscal was 5 per cent, according to government data.
“One quarter of 5 per cent does not mean we are on a 5 percent growth trajectory,” Debroy said at the CII Banking Colloquim here.
Allaying fears of an economic downturn, he said there have been instances in the past when GDP growth fell below 5 per cent during a quarter, but recovered to 7 per cent in the very next quarter.
Debroy also said GST collection has been revenue negative so far instead of being revenue neutral.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
