India's economy is within "striking distance of 8 per cent growth," Principal Secretary to the Prime Minister Shaktikanta Das said on Sunday, crediting a decade of systemic reforms for the country's resilience against repeated global shocks.
The growth argument
Addressing the Kautilya Economic Conclave in New Delhi, the former RBI Governor said real GDP grew 7.8 per cent in the first quarter of 2026-27, supported by strong domestic demand and investment. He pointed to above-8 per cent growth over the four quarters from July-September 2025 to April-June 2026-27 as evidence that the 8 per cent mark is within reach.
What built the buffer
Das said the reforms of the past ten years were designed as systemic buffers rather than one-off measures: flexible inflation targeting introduced in 2016, the Goods and Services Tax, the expansion of digital payments, banking-sector cleanup, sustained fiscal consolidation and large-scale spending on transport and logistics through PM Gati Shakti, the National Logistics Policy, Sagarmala and UDAN. He also highlighted energy diversification across fossil fuels, renewables, biofuels and nuclear power, and a "manufacturing resurgence" driven by production-linked incentives and semiconductor investments.
Next drivers
Artificial intelligence, deeper financial markets, strategic self-reliance, sustainable development and human capital will define the next phase of growth, he said, adding that sustaining reform momentum matters more than chasing speed alone.
Sources:
- Lokmat Times (IANS) — Key economic reforms in last decade have made India resilient amid global shocks: Shaktikanta Das
The growth argument
Addressing the Kautilya Economic Conclave in New Delhi, the former RBI Governor said real GDP grew 7.8 per cent in the first quarter of 2026-27, supported by strong domestic demand and investment. He pointed to above-8 per cent growth over the four quarters from July-September 2025 to April-June 2026-27 as evidence that the 8 per cent mark is within reach.
What built the buffer
Das said the reforms of the past ten years were designed as systemic buffers rather than one-off measures: flexible inflation targeting introduced in 2016, the Goods and Services Tax, the expansion of digital payments, banking-sector cleanup, sustained fiscal consolidation and large-scale spending on transport and logistics through PM Gati Shakti, the National Logistics Policy, Sagarmala and UDAN. He also highlighted energy diversification across fossil fuels, renewables, biofuels and nuclear power, and a "manufacturing resurgence" driven by production-linked incentives and semiconductor investments.
Next drivers
Artificial intelligence, deeper financial markets, strategic self-reliance, sustainable development and human capital will define the next phase of growth, he said, adding that sustaining reform momentum matters more than chasing speed alone.
Sources:
- Lokmat Times (IANS) — Key economic reforms in last decade have made India resilient amid global shocks: Shaktikanta Das
