Illustration by Ramandeep Kaur | ThePrint


Text Size:

Growth forecasts for the Indian economy have converged at optimistic levels. The recovery this year is pegged at a range between 8.3 per cent (World Bank) and 10.5 per cent (the government), with the International Monetary Fund (IMF) in between, at 9.5 per cent. Sundry economists at investment banks also have their forecasts in the mid-range. These recovery-year numbers, taken with the pandemic-driven drop in GDP last year of 7.3 per cent, yield an annual growth rate of about 1 per cent. That compares marginally unfavourably with global GDP performance in these two years, and with the performance of emerging market economies. Indeed, the World Bank says this is going to be the best recovery year for the global economy in 80 years, whereas India has a few years in the last 40 when it did better. 

With that as a…

Read more…

Share.

Comments are closed.