NITI vice-chairman pegs GDP growth at 7-7.5% in Q2 despite sub-6% Q1 number

NITI Aayog's new V-C Rajiv Kumar said the country requires a homegrown model of development

NITI Aayog's new Vice-Chairman Rajiv Kumar pegged gross domestic product (GDP) expansion at 7-7.5 per cent in the second quarter of the current financial year, a day after the country's economic growth in the first quarter fell to its lowest at 5.7 per cent in the three years of the Modi government.  

Attributing subdued GDP growth in the first quarter to destocking in the pre-goods and services tax period, higher WPI deflator, and base effect, Kumar said a turnaround in corporate investments was already happening. He stressed that the first quarter GDP figures were not a trend.