Economy News

Growth & inflation outlook to foretell more than full recovery in FY21

The Finance Minister’s monthly report on Tuesday quoted that the growth and inflation outlook regarding FY21-22 foretells extended recovery.

As per Finance Minister Nirmala Sitharaman, India has become the COVID-19 vaccine centre of the world now.

The Union Budget 2021 has come up with many structural reforms and all the new policies are pushed under the Aatmnirbhar Bharat Mission.

Many other measures have come up with a vision of reviving the economy like never before.

These all elements will be the key points towards achieving broad-based inclusive growth. It will empower the fundamentals of the economy and will lead the country towards a sustainable growth path going forward.

Currently the Indian economy is estimated around 7.7 percent amid coronavirus pandemic.

According to the latest Economic Survey, the projected growth rate is expected to rebound around 11 percent during FY21-22.

On the other hand, the budget has estimated the actual GDP of India around 10-10.5 percent during this year.

Further, the IMF will project growth output at 11.5 percent with this year. Apart from this, the Economic Survey will be at 11 percent and RBI’s Monetary Policy Committee will also estimate around 10.5 percent.

India is currently emerging as the fastest growing major economy in the whole world. It is too much that the growth alone counters towards sustaining the burden of public debt of whole economy.

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