Indian economy to grow fast – Navshakti
The Indian economy will grow rapidly
Experts say the success of the Corona control, as well as the increase in private sector and government spending, will boost the economy by about nine per cent. In the current financial year, from April 2021 to March 2022, the country’s economy is expected to grow at a rate of nine per cent. Goldman, a world-renowned brokerage house, estimates that India’s GDP growth rate will be 9.1 per cent in 2021-22. Consistent spending by the government as well as the private sector has led to an increase in the rate of GDP. This is due to the large investment in property. Large-scale immunizations, coronary controls, have given the economy a fair go. Industry has gained momentum, which will have an impact on the gross national product. Given the current positive situation, the Reserve Bank of India has no objection to raising repo rates, Goldman said.
With central banks now considering raising repo rates, repo rates in India could rise by as much as 0.75 per cent in 2022.
State Bank of India chief economist Soumyakanti Ghosh has also pulled out of Goldman Sachs. He says India’s gross national product could grow at 8.1 per cent in the second quarter of this fiscal. Also, between April 2021 and March 2022, the GDP growth rate could be 9.3 to 9.6 percent. In the current financial year, India’s GDP growth rate will be 9.5 per cent, the SBP has said. According to the bank, the number of corona patients in India has been steadily declining. India has the lowest number of corona patients compared to the top 15 countries affected by corona. According to some reports, countries like the US and China have lower GDP than India.
According to ICRA, the country’s gross national product (GDP) growth rate is expected to be 7.9 per cent in 2021-22 due to the increase in expenditure by the government.
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