India will achieve 10% GDP growth by Q4 of fiscal: Goyal
New Delhi, June 18 : The government is hopeful of achieving double-digit gross domestic product (GDP) growth in the country by the fourth quarter of the ongoing financial year, Railway and Coal Minister Piyush Goyal said on Monday.
Responding to a query at the Growth Net conclave here on how India proposed to go much faster than the current 7 per cent growth rate, Goyal, who also has temporary charge of the Finance Ministry, said his optimism on the 10 per cent GDP growth was based on the revival of domestic demand and the dynamism of a society that has become "aspirational".
"I see double digit growth happening by the fourth quarter of this year. There is a demand optic in the country and this growth will be driven by a society that has become very aspirational," he said.
There is one caveat to this... when this country decides to do business honestly, we will have 10 per cent GDP growth," he added.
Noting that the NDA government was committed to being an enabler of growth, Goyal said its focus had been providing on providing political and macroeconomic stability.
"Our focus has been on not doing anything that threatens the social fabric of the country. How can we take the entire country along for growth and development... that has been our thrust in these four years," the Minister said.
"Fiscal deficit this year will be kept within the target limit of 3.3 per cent. We are monitoring to ensure that the deficit is at 3.3 per cent despite it being an election year."
Asked if rising global crude oil prices were threatening India's macroeconomic stability, Goyal said the government was monitoring the situation on a real time basis, including other international factors like the rise in interest rates in the US and Europe.
"The government is monitoring the situation on a real time basis. It will ensure the stability of the economy and that we achieve all targets, including the fiscal deficit of 3.3 per cent," he said.
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RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
