NITI Aayog Vice-Chairman Rajiv Kumar has said the economic slowdown that began in 2013-14 has bottomed out and the GDP is likely to grow at 6.9-7 % this fiscal and 7.5% in 2018-19.
The economic growth slowed to 7.1% in 2016-17, the year in which 87% of the currency was demonetised, despite a very good show by the agricultural sector.
On a quarterly basis also, the growth in the first quarter of the current fiscal had slipped to 5.7%.
“I think, by the time you come to the first quarter of 2018, you will see a stronger recovery, and fiscal 2018-19 will be a much better year than fiscal 2017-18. And that will then continue because it will be on much more sustained basis,” Mr. Kumar said adding growth will be about 6.9-7% in the current fiscal year.
“In the next fiscal year, the growth would be about 7.5%,” Mr. Kumar said in an interview to PTI.
