India's Chief Economic Adviser,V Anantha Nageswaran,sees a path to growth above 7% by fiscal 2028 — if external factors cooperate and supply-side actions take hold. His comments came Friday after the Reserve Bank of India (RBI) revised its FY27 GDP growth forecast down to 6.6% from April's 6.9% projection .
RBI blames cut on stubbornly high energy and commodity prices,plus supply chain hiccups tied to West Asia conflicts. Nageswaran respects RBI's call,saying, "We have no reason to second-guess them at this point," but notes potential ups and downs ahead.
Despite RBI's cautious tone,Nageswaran believes macro stability and supply guarantees can guide India back over 7% growth. If conditions improve,he says, the rebound could be swift . "Even if growth were to slip below 7 percent as RBI forecast suggests... macro stability measures and supply assurances will bring us back to a 7 percent plus growth track in FY28," he stated.
Looking forward,Nageswaran expects nominal GDP growth to top the Union Budget's 10.1% estimate for fiscal 2026-27, driven by rising retail inflation. "The good news is that the nominal GDP growth will be significantly higher than the number which the budget estimates used," he said . Economic outlook hinges on getting back to pre-February 28 conditions. If not,more revisions might come…
