Niti Aayog VC thinks economy will surpass RBI and IMF forecast

Source :Sify
Author :Finance Desk
Last Updated: Fri, Oct 22nd, 2021, 01:06:18hrs
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Rajiv Kumar Niti Aayog

Niti Aayog Vice Chairperson Rajiv Kumar estimates that the country's economic growth will be over 10.5 percent.

The number is higher than the IMF and RBI projections. Previously, the Reserve Bank of India, revised GDP growth for the country from 10.5 percent to 9.5 percent.

The International Monetary Fund too had projected a similar number while estimating a growth of 10.5 percent for fiscal year 2022-23.

Kumar who was speaking at a virtual conference was quoted by news agencies as saying that the India Purchasing Managers Index had shown an "uptick" and that "it (economic activity) will strengthen even further."

The Indian economy sunk to minus 23.9 percent, a decadal low, in the April, May and June quarter of 2020 before returning to positive numbers. Latest GDP number for April, May and June quarter reported a 20.1 percent growth aided by low base and lifting of lockdowns. 

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