It's hard to agree with Arvind Subramanian's suspicion of India's GDP recovery2 min read . Updated: 02 Jan 2022, 05:59 AM IST
- Overall, the Indian economy should get back to normal growth, which would be aided by proactive measures to boost investment, including stepping up government spending and accelerating the pace at which pieces of the active market in corporate debt that India needs are being put together
Dr Arvind Subramanian, a former chief economic adviser (CEA) in the ministry of finance, has warned, in a lecture he recently gave at the Indira Gandhi Institute of Development Research (IGIDR), Mumbai, against over-optimism on economic recovery on the ground that India’s national income accounts rest on shaky legs and, even on their basis, the economy has barely recovered to the pre-pandemic level. To his credit, he said robust tax growth is an optimistic indicator of possible economic vigour.
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