Key Points
India should be satisfied with the current growth rate unless the external environment improves, Member of Economic Advisory Council to the PM, Sanjeev Sanyal, said on Wednesday, terming economic expansion in the range of 7 per cent perfectly good..
"You can only generate very high rates of growth if the external environment is conducive, otherwise we should be satisfied with what we are doing or even something in the range of 7 per cent is perfectly good," Sanyal said...
And if it grows at 7 per cent, we would have been perfectly happy," he said.. Commenting on a recent paper authored by Thomas Piketty, which suggested that inequality has increased in India, Sanyal said, "study which Piketty and company has done is actually utter garbage", and the country needs to celebrate its billionaires as done in the USA...
"They have problems with brown billionaires," he said, adding that Americans celebrate and feel proud of billionaires like Bill Gates and Elon Musk.. Recently, a study done by Thomas Piketty (Paris School of Economics and World Inequality Lab), Lucas Chancel (Harvard Kennedy School and World Inequality Lab) and Nitin Kumar Bharti (New York University and World Inequality Lab) revealed that inequality in India has skyrocketed since the early 2000s, with the income and wealth share of the top 1 per cent population rising to 22.6 per cent and 40.1 per cent, respectively, in 2022-23...
The fact of the matter is that India's economy is now growing at a very rapid pace should be visible," he said.. Subramanian had recently said India's latest GDP numbers are "absolutely mystifying" and difficult to comprehend..
You might be interested in
Indian economy not falling behind. likely to grow at 6.5pc in FY24: Sanjeev Sanyal
16, Apr, 23Indian economy will grow at around 6.5 per cent in the current fiscal and will continue to be the fastest-growing major economy in the world, notwithstanding a modest cut in growth projections by multilateral lending agencies, Sanjeev Sanyal said. Sanyal further said that given the uncertainties in the global economy, India's performance is clearly far ahead of any other comparable economy.
Indian economy to grow at 6.3 percent in FY24: World Bank
03, Oct, 23India Business News: India's economy is predicted to grow at 6.3% in the current financial year, supported by investment and domestic demand, according to a World Bank rep
World Bank says India’s growth to moderate to 6.3% in FY24 from 7.2% in FY23
03, Oct, 23The bank maintained that India will remain one of the fastest-growing major economies in the world.
Indian economy outperforming peers, projected to grow at 6.2% in 2024: UN
05, Jan, 24India Business News: The UN World Economic Situation and Prospects (WESP) 2024 report projects India to grow at 6.2% in 2024, driven by robust domestic demand and strong g
India needs consistent reforms to remain fastest-growing economy: IMF's Gita Gopinath
16, Jan, 24In an exclusive interview with India Today, Gita Gopinath said India will continue to be amongst the fastest-growing economies in the world in 2024.
India can achieve 10 pc growth rate in next decade: RBI deputy guv
28, Mar, 24RBI Deputy Governor predicts India's economy to become the world's largest by 2050, driven by 10% growth rate. Challenges include increasing female labor participation and enhancing exports, with a focus on high-value tourism and financial services.
India emerges as beacon of growth, to remain fastest growing major economy: ITC chairman
11, Aug, 23India Business News: In his address to shareholders, Sanjiv Puri said the country is buoyed by optimism and deeply engaged in realising that promise, striding on the pathw
Per capita GDP for Bangladesh higher than India till 2022
09, May, 23Bangladesh continues to have higher per capita GDP when compared to India till 2022, latest data from International Monetary Fund (IMF) revealed