Growth in range of 7% perfectly good for India unless external environment improves, says Sanyal
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Sanjeev Sanyal, member of Economic Advisory Council to the Prime Minister, stated that a growth rate in the range of 7% is perfectly good for India unless the external environment improves. He emphasized the need to protect macroeconomic stability and cautioned against attempting to grow the economy at a faster rate. Sanyal also criticized a recent study by Piketty and company on inequality in India, calling it 'utter garbage' and suggesting that India should celebrate its billionaires. He highlighted the visible signs of economic growth in India, such as infrastructure and construction projects. India's economy grew at 8.4% in the final quarter of 2023, exceeding expectations. Sanyal stated that stability is prioritized over growth in order to compound growth rates over the long term.

#India #EconomicGrowth #SanjeevSanyal #MacroeconomicStability #Inequality #Piketty

https://m.economictimes.com/news/economy/indicators/growth-in-range-of-7-perfectly-good-for-india-unless-external-envt-improves-sanyal/articleshow/108824459.cms