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India’s real GDP seen growing by 10.1 pc in FY22


India’s real gross domestic product (GDP) is expected to grow by 10.1 per cent in FY2022, according to Ms Aditi Nayar, Principal Economist, ICRA Ratings, in a report. However, the value of GDP in the next financial year will only mildly surpass the level that had been recorded in FY2020. There has been a 7.8 per cent pandemic-driven shrinkage in FY2021. 


This positive expansion will be led by the continued normalisation in economic activities as the roll-out of Covid-19 vaccines gathers traction, as well as the low base. It expects a multi-speed recovery in FY2022, with the contact-intensive sectors, discretionary consumption and investment by the private sector trailing the rest of the economy in attaining, and sustaining, pre-Covid levels, said a report.

 

Source: Exim News Service: New Delhi, Jan. 12

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