Economic Survey projects 11% GDP growth for 2021-22

Finance Minister Nirmala Sitharaman on Friday tabled the Economic Survey 2020-21 prepared by Chief Economic Adviser Krishnamurthy Subramanian, which predicted a GDP growth of 11% for the upcoming financial year.

The forecast is in line with IMF’s estimate for 11.5% expansion. The Indian economy is set to contract 7.7% in the current fiscal year, the survey stated.

CPI inflation from April-October 2020 was mostly driven by substantial increase in price momentum, possibly due to the initial disruptions caused by the Covid-19 lockdown