India is on the cusp of a major economic recovery and talks of possible stagflation are “overhyped” as a strong economic foundation is being laid with the reforms carried out by the government over the last seven years, Niti Aayog Vice Chairman Rajiv Kumar said on April 3.
Notwithstanding economic uncertainties triggered by the Russia-Ukraine war that is also impacting global supply chains, Mr. Kumar asserted that it was quite clear from all accounts that India will remain the fastest growing economy in the world.
“Given all the reforms that we have done in the last seven years, and given that we are seeing the end of the COVID-19 pandemic hopefully, and the 7.8% rate of growth that we will get this year (2022-23), a very strong foundation is now being laid for further rapid increase in economic growth in the coming years,” Mr. Kumar told PTI in an interview.
