India is expected to log GDP growth of around 6.5 per cent in the current fiscal despite global headwinds, with GST 2.0 reforms set to provide a long-term boost to the economy, NITI Aayog Member Arvind Virmani said on Thursday.
Speaking to IANS, Virmani said the Indian economy has shown strong resilience to external shocks in recent years, and reforms like GST will further strengthen its foundations.
“From the beginning, we have been saying that GDP growth this year will be around 6.5 per cent, plus or minus 0.5 per cent, given the uncertainty,” he said, adding that global developments such as the recent US tariff hikes have created additional challenges.
Former Chief Economic Adviser, said the GST reforms were part of a broader push to simplify compliance and improve ease of doing business. “Simplification takes time to deliver efficiency and positive tax effects, but I am confident those results will come,” he said.
He also pointed out that income tax reforms announced in the Union Budget and subsequently passed by Parliament will complement GST changes in spurring growth.
The economist said markets often anticipate the benefits of structural reforms, and some of those effects are already visible.
India’s economy grew 7.8 per cent in the first quarter of the current financial year (Q1 FY26), surpassing RBI’s forecast of 6.5–6.7 per cent, reinforcing optimism about the growth trajectory.
Source from: https://ddnews.gov.in/en/india-likely-to-grow-6-5-pc-this-fiscal-gst-2-0-to-aid-long-term-growth-niti-aayogs-virmani/
