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Wrong to conclude India on 5% growth trajectory: Debroy
Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy on Friday it would be incorrect to conclude that India is on a 5-per cent growth trajectory on the basis of just one quarter's GDP print.
Kolkata: Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) Bibek Debroy on Friday it would be incorrect to conclude that India is on a 5-per cent growth trajectory on the basis of just one quarter's GDP print.
The GDP growth in the April-June quarter of the 2019- 20 fiscal was 5 per cent, according to government data.
"One quarter of 5 per cent does not mean we are on a 5-per cent growth trajectory," Debroy said at the CII Banking Colloquim here.
Allaying fears of an economic downturn, he said there have been instances in the past when GDP growth fell below 5 per cent during a quarter but recovered to 7 per cent in the very next quarter.
Debroy also said GST collection has been revenue negative so far instead of being revenue neutral.
