India's GDP may grow 7.4-8.2% in FY23, says CII president Sanjiv Bajaj

Bajaj said that to counter inflationary pressures, the central and state governments should cut taxes on petrol and diesel further

India’s FY23 gross domestic product is expected to grow between 7.4 and 8.2 per cent under three scenarios of global crude oil prices, said Sanjiv Bajaj, the new president of Confederation of Indian Industries and chairman of Bajaj Finserv, on Monday.

Speaking at a media briefing, Bajaj also said that the government needs to substantially increase its expenditure outlay on education and health, and that inter-state bodies similar to the GST Council need to be considered for sectors like power, land, labour and agriculture.

Bajaj said that CII expects FY23 GDP growth to be 7.4 per cent if global crude prices average