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Macro stability, supply measures can bring back India on 7% growth trajectory in FY28: CEA
Jun-06-2026

Emphasizing that growth prospects depend on improvements in external conditions, Chief Economic Adviser (CEA) V. Anantha Nageswaran has said that macroeconomic stability and supply-side measures could help restore India to a 7 per cent growth trajectory by FY28. Nageswaran said ‘We have no reason to second-guess them (RBI forecast) at this point, because there are both possibilities on the upside and on the downside with respect to the numbers that they have presented’. 

Meanwhile, the Reserve Bank revised its FY27 GDP growth forecast downward to 6.6 per cent from the 6.9 per cent projected in April, citing elevated energy and commodity prices, along with persistent supply disruptions stemming from the conflict in West Asia, which are expected to weigh on economic activity.

He further said it is a hope based on the assumption that the pre-February 28 condition is restored before FY28. He noted that ‘Now, if these conditions continue, then we will revisit the estimate for the next financial year’. Regarding nominal GDP, he said it is a fair estimate that it will overshoot the 10.1 per cent estimated in the Budget 2027, given the upward momentum of retail inflation. 

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