Economic Survey: 11% growth in FY22; fiscal deficit to overshoot | Editorji
  1. home
  2. > economy
  3. > Economic Survey: 11% growth in FY22; fiscal deficit to overshoot
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Economic Survey: 11% growth in FY22; fiscal deficit to overshoot

Jan 29, 2021 16:43 IST

The government in Economic Survey 2021 projects the Indian economy to grow by a robust 11% in the financial year 2022. It also estimated India’s GDP to contract by 7.7% in FY21, the sharpest fall in four decades. This will comprise of a sharp 15.7% decline in the first half and a modest 0.1% fall in the second half.

India's fiscal deficit is projected to overshoot the initial estimates, 3.5% of GDP, in the financial year ending in March. In order to sustain the recovery in aggregate demand, the government may have to continue with an expansionary fiscal stance, the survey said.

 

Economy