NEW DELHI: The fundamentals of economy are absolutely solid and it is expected to return to 7% growth soon, chairman of the 16th Finance Commission Arvind Panagariya said Thursday asserting that in ten years time “things are going to change dramatically.”
He said a few more economic reforms could help accelerate GDP growth to over 10-11% in the years ahead and asserted that the economy had the potential to soar to a size of $6.5 to $9 trillion on the back of strong growth
Sounding confident of the economic growth staging a rebound, Panagariya said the slowdown in the July-Sept quarter was temporary. He also called for implementing labour codes, which have been approved by Parliament, adding that fewer elections on the horizon provides a window for implementing labour codes.