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CEA Nageswaran says 7% growth forecast for current fiscal 'very realistic'

Chief Economic Advisor V Anantha Nageswaran on Tuesday said high frequency data indicate buoyant economic growth momentum and the 7 per cent GDP growth estimate for the current fiscal is very realistic. He also said that there are enough signs that manufacturing is in good health. "Inflation is softening and the pass through from wholesale prices has run its course we do have some uncertainty related to monsoon because of El Nino activity we need to be ready with both supply side and monetary policy measures in the course of the next financial year," Nageswaran told reporters. According to him, the GDP growth forecast of 6.5 per cent for the next fiscal is well within the range of forecast by other agencies like OECD and ADB but there are downside risks. "We need to be prepared for tighter financial conditions globally, weather-related uncertainties and geopolitical factors. 2023-24 may not see a big ticker shock as we saw in early months of 2022-23 as the war broke out in 2022 bu

Former CEAs would do well to be less political

The utterances of former advisors who have turned political don't fully pass the smell test. It would help if they are a bit more respectful of their profession, which demands neutrality

PM Awas, Jal Jeevan to create rural jobs, justify MGNREGS cut: CEA

The CEA also said that as nominal and real GDP growth improve, many more urban jobs will be created and that will also absorb more of the rural workforce

Waiting for private sector to take the lead on capex: CEA Nageswaran

'Not necessary or healthy for public sector to keep expanding capital investment,' he says

India's public spending could crowd out private spending, says CEA

India's chief economic adviser said on Friday that the current pace of public spending in the country could crowd out private spending

Top headlines: ESMA-RBI tussle, India's services exports, Paytm Q2 results

Business Standard brings you the top headlines this hour

FY23 GDP growth may not exceed 7%, says CEA V Anantha Nageswaran

The IMF sees FY23 GDP growth at 6.8 per cent compared with 7.4 per cent earlier, while the RBI has cut its forecast to 7 per cent from 7.2 per cent

India needs to be flexible as G-20 chief in face of global challenges: CEA

Nageswaran flags climate finance as a key agenda of bloc in face of 'unknown unknowns'

Growth next year to be better than IMF projections, says CEA Nageswaran

Chief Economic Adviser V Anantha Nageswaran on Monday said India is expected to clock better growth than IMF's projections next year aided by enhanced capital formation. Recently, the International Monetary Fund (IMF) projected 6.8 per cent real growth for this year and 6.1 per cent for next year for India. "I think in fact, the growth rates for the coming years may be slightly more, slightly better than what these numbers are, because I think there is a possibility that India's capital formation cycle will do better after one decade of retrenchment," he said. India's public digital infrastructure has probably crossed an inflection point and that will also be contributing to both formalisation of the economy and therefore higher growth, he said. So, he said, maybe there could be 0.5-0.8 per cent addition to the 6 per cent baseline numbers. He also said that fiscal policy and monetary policy are usually synchronised and counterbalance each other. On high debt-to-GDP ratio, he said

After finance ministry stint, K V Subramanian starts new innings as IMF ED

The India ED also represents Bangladesh, Bhutan and Sri Lanka, along with another appointee from one of these countries

Cryptos akin to a world of Carribean pirates in absence of regulation: CEA

V Anantha Nageswaran said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'

India is better placed than others to face inflation, says CEA Nageswaran

Stagflation is the phase when an economy faces moderation in GDP growth as well as high inflation

India sets 19 mn tonnes end-June coal import targets as power woes mount

The move, which marks first time the country is issuing timelines for imports, can put pressure on the global prices of coal as the utilities rush to avoid a repeat of the electricity crisis in April.

Economy to feel pinch of higher commodity prices: CEA V Anantha Nageswaran

'Employment generation is both a near-term and long-term priority', said Nageswaran

Taking a sneak peek at new CEA V Anantha Nageswaran's thoughts

Here are his commentaries on a few key issues

Govt appoints V Anantha Nageswaran as new Chief Economic Advisor

Appointment comes when all eyes are on Economic Survey and Union Budget

The role of the CEA needs to be redefined by the finance minister

Successive govts have appointed excellent economists, not because they wanted their advice, but because someone has to prepare the Survey and maybe speak on behalf of the government as a spokesperson.

Hunt for new chief economic adviser starts, eligibility criteria tweaked

Subramanian's term is ending on December 6. He's decided to return to academia

Centre to appoint a committee within two weeks to select next CEA

The selection committee interacts with key people in the finance ministry and other stakeholders before sending the shortlisted names to the finance minister

Economy to see robust growth on back of structural reforms, capex push: CEA

GDP data re-affirms govt's prediction of an imminent V-shaped recovery, says K V Subramanian