Overview
- Chief Economic Advisor V Anantha Nageswaran said real GDP is likely to be near 7% in FY26, citing the economy’s solid response to global shocks.
- He noted earlier projections of 6.3%—trimmed to 6% after U.S. tariff actions—have been reassessed following stronger early-year data, including a 7.8% Q1 print.
- He credited income tax relief and GST rationalisation for shoring up demand, alongside RBI rate cuts and liquidity operations to keep funding conditions supportive.
- Nageswaran pointed to recent sovereign-rating upgrades by three global agencies, including S&P, and said an eventual move into the ‘A’ category could lower borrowing costs.
- Addressing concerns about weak bank credit and tepid private capex, he cited RBI data showing total resource mobilisation has risen about 28.5% annually over six years, while maritime speakers pegged sector funding needs above USD 300 billion with GIFT City proposed as a fund-raising venue.