Indian economy to grow 9.2 pc in 2021-22, surpass pre-Covid level: Govt. data

TIL Desk/Business/New Delhi/ The Indian economy is estimated to grow at 9.2 per cent in the 2021-22 fiscal, surpassing pre-Covid level in actual terms mainly on account of improved performance especially in farm, mining and manufacturing sectors.

The improvement in the economy comes over a GDP contraction of 7.3 per cent during 2020-21 due to the pandemic and resultant lockdown imposed to curb the spread of the deadly coronavirus.

As per the first advanced estimates of the national income released by the National Statistical Office (NSO) on Friday, a growth is witnessed across sectors.

“Real GDP or GDP (gross domestic product) at Constant Prices (2011-12) in the year 2021-22 is estimated at Rs 147.54 lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of Rs 135.13 lakh crore, released on May 31, 2021. The growth in real GDP during 2021-22 is estimated at 9.2 per cent as compared to the contraction of 7.3 per cent in 2020-21,” as per the NSO statement.

As per the estimates, GDP in actual terms in 2021-22 will surpass the pre-Covid level of Rs 145.69 lakh crore in 2019-20.