With respect to the prospects of 2022-23 growth, IMF and Organisation for Economic Co-operation and Development (OECD) forecasts have indicated growth rates at 8.5% and 8.1%, respectively. However, these may prove to be optimistic as the base effects characterising 2021-22 may be limited. In fact, as per the NSO’s advance estimates, at the end of 2021-22, the magnitude of GDP in real terms is estimated at INR₹147.5-lakh crore that is only a shade higher than INR₹145.7-lakh crore in 2019-20. (Read More)
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