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Goldman Sachs – The growth rate in the current financial year will be 85 percent, next year will be 98 percent goldman sachs

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Goldman Sachs – The growth rate in the current financial year will be 85 percent, next year will be 98 percent goldman sachs

Mumbai, Nov 23 (PTI) The country’s Gross Domestic Product (GDP) growth rate will be 8.5 per cent in the current financial year 2021-22 and will further increase to 9.8 per cent in the next financial year 2022-23.

Foreign brokerage company Goldman Sachs has made this estimate.

In the last financial year 2020-21, the country’s growth rate declined by 7.3 percent. Due to weak comparative base, the growth rate is expected to remain high in the current financial year.

A Goldman Sachs report released on Tuesday said that consumption will be the major contributor to growth next year. “At that time, the economy will open up completely with the remarkable progress in vaccination.”

The US brokerage company said the government’s capital spending would continue. The report said that the growth rate will be better in the next financial year. Very few analysts have predicted the growth rate to be even better after the weak comparative base effect ends.

Earlier in the day, UK-based brokerage Barclay had said that the growth rate in the current fiscal will be 10 per cent, while in the next fiscal it will fall to 7.8 per cent.

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