No significant downside risks to growth: Government
Published On : 2024-11-21T05:42:21+0530 [ IST ] |
Author : Mayur_Tembhare
Reading Time : 1 mins
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The government is sticking to its estimate of the economy expanding by 6.5-7% during the current fiscal year in line with the projections made in the Economic Survey and does not see significant downside risks to growth.
I don't see any significant downside risk to this... the numbers in the second quarter do indicate that some of the products or some of the services may not be at the same level where they were about a year ago or even two quarters earlier. But thereafter you look at some other indicators... e-way bills or (GST) e-invoices in the month of Oct they tell a different number.
The comments come ahead of the release of Q2 GDP data on October 29 and amid concerns of softening urban demand for automobiles, consumer goods and durables.
Seth also maintained that inflation was not a concern barring a spike in prices of some food products due to an extended monsoon.
Last year capex was Rs 9.5 lakh crore but this year it is budgeted at Rs 11.1 lakh crore. Some sectors are a bit slow but there is additional demand coming from a few other sectors. I don't see a major issue coming up. Even last year it was budgeted at Rs
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Source : Reporters From Sunrise Chronicles
Tags : rsseth also maintained , Oct , economiceven two quarters earlier , Ficci , Asked , Ready , Workshop , Government , But , That ,
Summary :
The government is sticking to its estimate of the economy expanding by 6.5-7% during the current fiscal year in line with the projections made in the Economic Survey and does not see significant do
