Economy to see a growth of 11.5% in First Quarter
India’s economy is reported to grow by 11.5% in the first quarter of the current fiscal year.
It is expected to see a growth in the range of 8.4% to 10.% in year 2020-2021.
World Bank slashes India’s FY22 GDP growth forecast to 8.3%
It has further projected India’s growth to be 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the Covid-19, the largest outbreak in the world since the beginning of the deadly pandemic.
Activity will benefit from policy support, including higher spending on infrastructure, rural development, and health, and a stronger-than expected recovery in services and manufacturing, it said.
The UN report said the country has expanded vaccine eligibility and is ramping up supply in every possible manner but access to vaccines is unequal and insufficient to meet the massive demand.