India to log ‘one of highest growth rates': Ashima Goyal

She further said sticking to announced consolidation path by govt in upcoming Budget will give a good signal of control and predictability

OUR CORRESPONDENT

NEW DELHI: Eminent economist Ashima Goyal on Sunday said India is likely to have one of the highest rates of growth in the world as there are gradual moves towards normalisation, even as stimulus and support for vulnerable sectors continue.

Goyal further said sticking to the announced consolidation path by the government in the upcoming Budget will give a good signal of control and predictability.

“India has come out of a very difficult time with good macroeconomic parameters. It is likely to have one of the highest rates of growth in the world, while inflation remains within the tolerance band,” she said.

Goyal, who is also a member of the Monetary Policy Committee (MPC) of the RBI, said monetary-fiscal coordination has worked well and stimulus has been adequate but not excessive.

“There are gradual moves towards normalisation, even as some stimulus and support for vulnerable sectors continues,” she said, adding that the financial sector is healthy.

The RBI has lowered the growth projection for the current financial year to 9.5 per cent, while the IMF has projected a growth of 9.5 per cent in 2021 and 8.5 per cent in the next year.