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Expressing optimism over India’s economic growth, Niti Aayog Vice-Chairman Rajiv Kumar has said that the country’s economy is likely to grow by 10 per cent or more in the current fiscal (FY22), and going forward, once Indian economy out of the COVID-19 pandemic, it will grow at 8 per cent plus in the next fiscal year (FY23), Niti Aayog Vice-Chairman Rajiv Kumar said. He further said that seven years of the Modi government has laid a strong economic foundation for businesses to thrive in India.

Kumar said ‘According to the IMF, India will be the fastest growing major economy for the next five years. These are underestimations’. There was a hiccup (in economic growth) for two years due to COVID-19 pandemic. The IMF has projected a growth of 9.5 per cent in 2021. He noted that ‘Things are changing and people are ready to invest in India’.

The Niti Aayog Vice-Chairman said the potential rate of growth of India will move up to 8 per cent. Meanwhile, the country's economy grew by a record 20.1 per cent in the April-June quarter, helped by a very weak base of last year and a sharp rebound in the manufacturing and services sectors in spite of the devastating second COVID wave.