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Economy poised to grow above 8% from next year: NITI Aayog

New Delhi, July 4: The Indian economy is “on the cusp of a major sustained and ongoing recovery” and poised to grow above 8 per cent from the next year, thanks to a slew of measures taken by the government in the last few years, NITI Aayog Vice Chairman Rajiv Kumar said here on Tuesday. He also insisted that the weakening of the rupee should not be a cause of worry as it is still “overvalued” in terms of the Real Effective Exchange Rate (REER).”I think because of all these reforms, all the measures we have taken (over the last few years), we are now on the cusp of a major sustained and ongoing recovery. I think we will shift now from 7.5 per cent growth now to 8 per cent and above next year. By 2022, we want to get to 8.5-9 per cent growth and sustain it,” Rajib Kumar said at a press conference here. He said he was saying this on the basis of the “macroeconomic balances that are in place”, along with a higher growth. (IANS)

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