No prospects of recession in India
Former NITI Aayog chief says despite global slowdown, domestic economy to grow 6-7% in next fiscal
image for illustrative purpose
New Delhi: India will still grow at 6-7 per cent in the next 2023-24 fiscal even as the economy may be affected by uncertain global conditions, former NITI Aayog vice-chairman Rajiv Kumar said amid growing fears of the world slipping into a recession.
Kumar further said there is a synchronized downturn in the US, Europe, Japan and also in China and that could take the global economy into a recession in the coming months.
"Thankfully, there is no such prospect of recession in India, because although our growth may be negatively affected by the global conditions, we will still manage to grow at 6-7 per cent in 2023-24," he told in an interview.
