The Indian economy will grow by 10 per cent from 2021-22: report

New Delhi, 21 December 2020 Monday

The Indian economy, which has been badly affected by the Corona virus epidemic, is now on the path to recovery, a report said, adding that the Indian economy will grow by 10 per cent from 2021-22, Deloitte's Voice of Asia reported. As can be seen, the PMI index is at its highest level since 2008.

The Corona virus-hit Indian economy contracted by 23.9 per cent in the April-June quarter of the current financial year, while GDP growth was 7.5 per cent lower in the second quarter of July-September compared to the same period a year ago.

The report said that with good sales of motor cars, increase in finished steel production and increasing consumption of diesel, the increase in GST revenue indicates that the state of the economy is improving very fast after the unlock.

Sun demand and festive season demand have also helped improve the state of the economy, the report said, adding that maintaining growth would be a challenge if cases of corona virus infection increased.

"We anticipate that the Indian economy will grow at double digits in the next financial year after declining in the current financial year," the report said.