NEW DELHI : Mr. KV Subramanian, Executive Director of the International Monetary Fund (IMF) and Former Chief Economic Advisor to the Government of India, has expressed optimism about Indian economy.

He highlighted the robust growth of the Indian Economy, citing a 7.2 percent growth last year and a 7.7 percent growth in the first half of the current year. Subramanian forecasted a 7 percent growth for the ongoing financial year.

“The fact that the economy has grown at 7.2 percent last year and at 7.7 percent in the first half of this year is telling in itself. And if I look forward with a 7.7 percent growth in the first half of the year, even with a 6.3 percent average in the second half of the year, India will grow at 7 percent this particular financial year,” he said.

GST revenue indicates a positive trend

Mr. Subramanian also commented on the GST revenue collected in November 2023, stating that the collection trend suggests a potential touch of ₹2 lakh crore per month in 1.5-2 years. He attributed the success of GST collection to effective policy implementation, reflecting India’s commitment to sound fiscal management.