Chief Economic Adviser V A Nageswaran: Jul-Sep GDP Growth Could Be Revised Upwards

Chief Economic Adviser V Anantha Nageswaran has listed several reasons why India’s economic growth in the Jul-Sep period was much below expectations. Addressing the ASSOCHAM Bharat@100 Summit in New Delhi, the CEA said the figure released on Friday, November 29 was the first estimate and could be revised upwards in the coming days. He also said the slowdown was in part due to religious observances in September and excess rainfall in the monsoons. Nageswaran emphasised that despite global uncertainties, India’s underlying growth story remains intact and that India’s services and manufactured goods exports as part of the GDP was even higher than China’s. He also listed five risk factors for India’s economic growth.