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Indian economy not anywhere close to its full potential: CEA Arvind Subramanian

Arvind-Subramanian

New Delhi, Sep.2 : Chief Economic Advisor (CEA) Arvind Subramanian on Wednesday said there is a lot of slack in the Indian economy, and even if India is recovering, it is not close to anywhere where it can be.

“There’s lot of slack in economy even if we are recovery, we’re probably not anywhere close to full potential of economy,” Subramanian told media.

“One real challenge is that perhaps we should be focusing on price deflation rather than inflation. If what I expect to happen with revenue maintains, it’s likely that gross domestic product (GDP) growth number will be higher than latest numbers,” he added.

India’s GDP growth at seven percent in the April-June quarter is lower than the 7.5 percent growth recorded in the preceding quarter but higher than the 6.7 percent growth logged in the corresponding quarter last year. (ANI)