The National Statistical Office’s first advance estimates for economic output in the current financial year is an optimistic forecast that flags some positive trends as well as areas of concern that have the potential to derail the growth momentum. The NSO has projected real GDP for the 12 months ending March 2022 at ₹147.54 lakh-crore, a 9.2% expansion from the provisional estimate of ₹135.13 lakh-crore for the last fiscal year, when the full fury of the COVID-19 pandemic had caused output to contract by 7.3%. At that pace, India’s economy would regain its pre-eminence as the world’s fastest growing major economy. (Read More)
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