EAC-PM members say a real rate of growth of 7%-7.5% in FY23 seems likely

Other than an element of the base effect, the contact intensive sectors and construction should recover in 2022-23, say EAC-PM members

A meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) was held in Delhi on Thursday. "All the members unanimously agreed on the Budget of 2021-22 that it was well taken in all the spheres due to the transparency, realism, reformist and clear growth-oriented Budget," EAC-PM said in a statement. Looking beyond the current year, 2021-22, members were optimistic about real and nominal growth prospects in 2022-23. Other than an element of the base effect, the contact intensive sectors and construction should recover in 2022-23. Once capacity utilisation improves, private investments should also recover. Therefore, members felt a