10 States Have Potential To Drive India’s Economy At 10%

New Delhi, Aug 25 (KNN) G20 Sherpa Amitabh Kant has recognised that States have a bigger role to play for India to achieve high levels of growth, reported MoneyControl.

Speaking at Moneycontrol's Policy Next on Friday he said India has the potential to grow at 10%, if 10 states clock in a GSDP growth of 10% each, Kant said.

“We will see the golden period of India's growth with private sector expected to invest more and more going ahead,” he added.

On Thursday Finance Secretary TV Somanathan said that India's world-beating growth is expected to remain the highest in the foreseeable future making it the biggest development opportunity going ahead.

As on May 31 the Indian economy grew by 6.1% in January-March, well above the expectation of 5.1%, as per official data.

As a result, the full-year GDP growth for 2022-23 is now estimated at 7.2%, 20 basis points higher than the statistics ministry's previous estimate of 7%.

For the current fiscal, the Indian government expects to maintain the momentum with the GDP projected to grow by 6.5% even at a time when major economies of the world are in throes of a slowdown.  (KNN Bureau)