New Delhi: NITI Aayog Vice Chairman Rajiv Kumar has said that the Indian economy will register a growth of more than 10 percent in the current financial year. He said that India’s growth is very strong and the disinvestment environment has improved. Kumar also emphasized that the country is better prepared to deal with any possible third wave of Covid-19. At the same time, the states have also learned lessons in dealing with the epidemic during the last two waves.
Kumar said that it is hoped that now we are leaving the epidemic behind. With the entry into the second half of the current financial year, economic activities will improve. Various examples such as speed in traffic etc. are indicating this. The corona virus epidemic has had a bad effect on the Indian economy and the recovery of the economy has been affected due to the second wave. The Vice Chairman of NITI Aayog expressed confidence that the recovery of the economy is very strong and agencies or organizations which had reduced their Gross Domestic Product (GDP) estimates for the current financial year, may have to revise and increase it now. He said that he expects the Indian economy to register two numbers (of ten percent or more) growth in 2021-22.
In the last financial year 2020-21, the Indian economy has declined by 7.3 percent. Among the rating agencies, S&P Global Ratings has reduced India’s growth forecast for the current financial year from 11 to 9.5 per cent. Fitch Ratings has also lowered its growth forecast from 12.8 to 10 per cent.