The Indian economy could achieve its potential of growing at 8-8.5% if states improve their efficiency in areas such as labour and land, said Bibek Debroy, chairperson of the Economic Advisory Council to the Prime Minister (EAC-PM).
Addressing the Mint India Investment Summit 2023 in Mumbai, Debroy said while the aspirational growth rate for India would be 8-8.5%, the economy is expected to expand in the range of about 6.5% over the next two to three years, which could accelerate further to 7% as the impact of supply-side reforms already undertaken kick in. The growth could inch up to 7.5% if one were to be optimistic, Debroy said.
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