The impact of the epidemic is decreasing, economy will remain strong, performance will be better than expected
New Delhi. A recent report by the Finance Ministry has claimed that the growth and inflation scenario are expected to outperform even the complete revival of the economy in 2021-22. The monthly economic report released by the ministry also states that India has become the hub of Kovid vaccine for the world. The report said that along with the measures announced in the budget, structural reforms and policy support under the Self-Reliant India Mission will give strength to broad-based inclusive growth.
Fears of a fall: The report said that growth and inflation outlooks expect more than revival in 2021-22. The Indian economy is expected to decline by 7.7 percent in the current financial year due to the corona virus epidemic.
11% growth forecast
The annual economic review presented in the Parliament recently has predicted a growth rate of 11 per cent in 2021-22. The budget also forecasts 10 to 10.5 percent growth in real GDP.
IMF also described the economy as growing at a fast pace –
The report said that the International Monetary Fund (IMF) forecast 11.5 per cent growth in output for FY 2021-22, the Economic Survey projected 11 per cent economic growth and the Reserve Bank’s Monetary Policy Committee projected 10.5 per cent growth. Have done All estimates point to a better recovery in the country’s economy. In such a situation, this financial year is going to be rebuilt. The IMF has projected the country’s economic growth rate to be 6.8% in 2022-23. In this way, India has again become the fastest growing major economy. The country will return to a path of strong and sustainable growth in the coming financial year.