GDP likely to grow at the rate of 10 percent of GDP in FY 202122

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GDP likely to grow at the rate of 10 percent of GDP in FY 202122

Mumbai, Nov 17 (PTI) Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy said on Wednesday that India’s economy is moving towards a high growth trajectory and it will grow at a rate of around 10 per cent in the financial year 2021-22. likely to increase.

“I am confident that we are on our way towards a prosperous, more developed and better governed India with a higher growth rate, higher poverty alleviation rate, higher employment rate,” Debroy said at an SBI event.

“I think this year (FY 2022) the real rate of growth is going to be around 10 per cent,” he said.

He said the actual growth was estimated to be in the range of 8.5-12.5 per cent at the beginning of FY 2021-22.

Debroy said that however, all kinds of high frequency indicators including GST revenue, e-way bills, electricity consumption, vehicle registration, railway freight, corporate profitability, foreign direct investment (FDI) inflows and steel consumption are now confident about it. Let us assume that the real growth rate in the current financial year will be around 10 percent.

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