Economic Affairs Secretary says impact of demonetisation on economy will not spill over to next fiscal.
New Delhi: Stepping up the growth pitch, Economic Affairs Secretary Shaktikanta Das today expressed confidence that the economy will grow upwards of 7 per cent next fiscal.
"For this year's GDP growth, we have to wait till March-end. But next year, it will be upwards of 7 per cent," he said. Drawing on Finance Minister Arun Jaitley's statements, the secretary said there will be transient impact of demonetisation on the economy, but it will not spill over to the next fiscal. A large part of economy is moving towards digital transactions, he noted.
Despite the global headwinds, Das said India's growth remains much stronger. "It has stayed afloat. Not only stayed afloat, but also doing well. Our commitment is to push growth momentum," he explained.
Listing various reforms measures as announced in the Budget, Das spoke of gains for farmers from integration of spot and derivative market in commodity. He also dubbed announcement on contract farming and UGC as very big reforms.