The final rate of economic growth for the last fiscal will be known in February 2026 to be revised after more figures come out. He believes that it will be more than 7.2 percent.
Kolkata : Recently, the Central Statistics Office (SCO) said that the country's financial growth in the last financial year stood at 7.2%, surpassing the expectations of 7%. But the actually rate could be higher, the Centre's Chief Financial Adviser V Ananth Nageswaran hinted on Saturday. He attended the Bharat Chamber of Commerce's meeting in Kolkata.
Nageswaran claimed that the growth in the financial year is calculated on the basis of the information published in Section 6. According to the preliminary data, the growth rate (provisional) has been published for now at 7.2%. The final rate of economic growth for the last fiscal will be known in February 2026 to be revised after more figures come out. He believes that it will be more than 7.2 percent.
Nageswaran said, “Growth in October-December last fiscal fell to 4.5 per cent following the revised higher growth in the previous fiscal. As a result, it was known that it will increase in the next three months. That's what happened. The January-March (fourth quarter of the last financial year) growth has also touched 6.1%, surpassing the forecast. After the pandemic, the wheels of growth started turning from the last financial year. Export in goods and services was also 23.5% of GDP. Which is the highest since 2015. The improvement in the essential elements of growth has been evident since the beginning of the current fiscal year.'' But he agreed with the Reserve Bank on the forecast of 6.5% growth for the current fiscal year. The question of the concerned circles, is not 6.5% less after everything returns to the rhythm?
According to Nageswaran, the unemployment rate at one point was 20%. Now down to 6.8 percent. In this context, he pointed out the increase in the amount given to the PF fund as evidence. He claimed that job security has also increased.
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