In the Economic Survey 2020-21, Crisil has put forward a thing about India’s GDP (Gross Domestic Product). Crisil expects a growth of 11 per cent in the GDP in 2021-22.
According to the agency,
“The ongoing pandemic situation has made people adaot to the new normal. In the upcoming session, the govermernment is expected to make an investment-centered spending.
“The subsequent decrease in the spread of COVID-19 that is currently being observed would surely bring a difference to India’s GDP around 11 per cent.” Crisil quoted further.
According to the Chief Economist of Crisil, DK Joshi
“The pandemic blow has left the economic growth all startled and this is not expected to be over any sooner. Later parts of FY22 would have a widening focus on the ventures of the growth rate.”
He further quoted, “The early days of the session would be focused more on overcoming the challenges of this unavoidable situation and would work for the recoveries of the COVID-19 cases. However, the second half is expected to pick up its pace and march towards a improved growth rate. It would hopefully touch the pre-pandemic level rate during the last days of 2022 only.”
The current increase in the prices of petrol and diesel has put forward yet another challenge to deal with. However, this is not expected the economic growth at a huge rate as the food prices are going to remain moderate. In the upcoming sessions 2022-23 and 2023-24,the GDP growth is expected to be around an average of 6.3 per cent.
Joshi further added, “The debts and outcomes caused by pandemic are to be controlled soon for the betterment of economy. This would allow the economic growth to recover itself at a fast rate.”