India on track to achieve 6.8-7 pc GDP growth this fiscal: CEA

The Indian economy is on track to achieve a 6.8-7 per cent GDP growth in the current fiscal, Chief Economic Advsior V Anantha Nageswaran said on Wednesday.

He said the economic recovery momentum is continuing and the GDP is averaging the 2019-20 level.

''In 2022-23, the economy is on track to reach a 6.8-7 per cent growth in the current fiscal,'' he said, adding festival sales, PMI, bank credit growth and auto sales data shows that the economy has maintained momentum despite global headwinds.

The IMF has projected Indian economy to grow at 6.8 per cent this fiscal, while the RBI has pegged it at 7 per cent.

India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, as against 8.4 per cent in the same period 2021-22.

India's economy grew by 9.7 per cent growth in the first half (April-September) of this fiscal.