GDP estimate: India Inc seeks fiscal stimulus

FICCI President Sangita Reddy said with the advance GDP estimates projecting the current fiscal’s GDP growth at 5 per cent, it is a necessity now for the government to look at measures to infuse capital into the economy in a systematic way.

On Tuesday, the Central Statistics Office (CSO) pegged the 2019-20 growth at an 11 year low of 5 per cent. “The GDP growth estimate for the current financial year of 5 per cent is on expected lines. The growth during the first half of the year has been moderate and we hope to see some momentum in the latter part. In fact, there are nascent signs that point towards an improvement and we need to make sure that these find a more solid footing going ahead,” Reddy said.