A recent report by the Finance Ministry has claimed that the growth and inflation scenario are expected to perform well beyond the full revival of the Indian economy in 2021-22. The Finance Ministry’s monthly economic report released on Tuesday also said that India has become the center of the Covid-19 vaccine for the world.
The report said that along with the measures announced in the Union Budget 2021-22, structural reforms and policy support under the Self-Reliant India Mission will give strength to broad-based inclusive growth. With this, the country will return to the path of strong and sustainable growth in the coming financial year.
The report said that the scenario of growth and inflation raised hopes for 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. The annual economic review presented in the Parliament recently has predicted a growth rate of 11 percent in 2021-22. The budget has also projected an increase in real GDP from 10 to ten and a half percent.
The report said that the International Monetary Fund (IMF) forecast an 11.5 percent increase in output for the fiscal year 2021-22, the Economic Survey projected 11 percent economic growth and the Reserve Bank’s Monetary Policy Committee projected a 10.5 percent increase. is. In such a situation, this financial year is going to be rebuilt. The IMF has projected India’s economic growth rate to be 6.8 percent in 2022-23. In this way India has again become the fastest growing major economy.