GDP growth rate could reach 10.5 per cent in FY2022: RBI Governor Shaktikanta Das

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New Delhi, 15 July 2021 Thursday

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the GDP growth rate projected by the RBI for the financial year 2022 is 10.5 per cent. “I see no reason to revise the growth forecast downwards,” he said.

In the financial year 2020-21, it declined by 7.3 per cent

In its monetary policy review held in April, the Reserve Bank projected an economic growth rate of 10.5 per cent during 2021-22. It may be mentioned here that in the last financial year i.e. 2020-21, the country's GDP has declined by 7.3 per cent. Where last fiscal year started with a sharp decline, the economy returned to the path of growth in the fourth quarter and achieved 1.6 per cent growth in the January-March 2021 quarter.

Production could cost Rs 2 lakh crore

Recently, the RBI had estimated that the second wave in the country could lead to a loss of Rs 2 lakh crore in production during the current financial year. The loss of economic output may not be directly related to GDP, but it does point to the loss of value added in the economy.

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