NEW DELHI: India's macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government's capex push and rapid vaccination, chief economic adviser (
CEA
)
KV Subramanian
said on Tuesday.
Briefing media on the growth number, he said the GDP data for the first quarter reaffirms the government's prediction of an imminent V-shaped recovery made last year.
India's economic growth surged to 20.1 per cent in the April-June quarter of this fiscal, helped by a low base in the year-ago period, amid a devastating second wave of the Covid-19.
The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21, according to data released by the
National Statistical Office
(NSO) on Tuesday.
On the inflation, he said it has witnessed a moderation in July compared to the previous month.
"Our expectation is that the inflation in the next few months should be within that range, between 5-6 per cent, but less than 6 per cent" despite hardening global commodity prices, he said.
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