New Delhi, March 28 -- India's growth headwinds from the central government's planned fiscal consolidation are easing, and the current economic slowdown appears cyclical, with the government's deregulation drive poised to spur growth, Neelkanth Mishra, chief economist at Axis Bank and head of global research at Axis Capital, said on Friday.

Speaking at the Mint India Investment Summit, Mishra said the government was capable of supporting growth and exceeding its deficit targets despite fiscal consolidation.

While government spending in 2023-24 was front-loaded, spending during this financial year has been back-loaded and could drive rapid growth in the final quarter, he added. "It is clear that there was a major drag to growth during FY...