Niti Aayog member Arvind Virmani said that India’s GDP projection in the current fiscal will grow at 6.5 per cent. He stated that growth would be unhindered despite fluctuating crude oil prices and climate changes.
The current uncertainty is mostly due to surprising conditions of EL Nino and the impact it had on the climate. In his interaction with media, he stated firmly that owing to uncertain changes there might be slight diminution in the range of 0.5 per cent to GDP growth.
In the similar note, Finance Ministry last week also sidelined the criticism of representing exaggerated GDP statistics. It mentioned that it regularly takes up the practice of considering income side estimates to compute economic growth. Even the international agencies have revised their estimates in upward move after seeing the first quarter data, she added.
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