indian economy: Capital investment to pick up in old economy; decent growth expected in FY23: Jayanth R Varma

Eminent economist Jayanth R Varma on Sunday expressed hope that in a few quarters from now, capital investment would begin to pick up even in the old economy, and said the next fiscal year is also expected to witness a decent growth.

Varma, who is also a member of the Monetary Policy Committee (MPC) of the Reserve Bank, in an interview to PTI said that inflation is a matter of concern, but as of now it is the persistence of inflation rather than its level that is a matter of concern.

“I am quite optimistic about the Indian economy and its growth prospects… The next year (2022-23) is also expected to witness decent growth,” he said.

According to Varma, the pre-pandemic level of economic activity has already been surpassed, and the rest of this financial year should also see further recovery.

He noted that calendar year 2021 saw dozens of new economy companies receive large funding both in private and public equity markets and these companies would…

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