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Economic Survey 2021 pegs India's GDP growth at 11.5% in FY22; read full text here

For FY21, the economy is expected to contract by 7.7 percent, the survey said. This is in-line with the estimates of the Reserve Bank of India (7.5 percent contraction), and the National Statistical Office (7.7 percent contraction).

January 29, 2021 / 02:51 PM IST
Representative image (PC- MoneyControl.Com)

Representative image (PC- MoneyControl.Com)

India's real gross domestic product GDP) is expected to grow by 11.5 percent in FY22, making it one of the world's fastest growing economies in the aftermath of the COVID-19 pandemic, said the Economic Survey 2020-21 tabled in Parliament on January 29.

For FY21, the economy is expected to contract by 7.7 percent, the survey said. This is in-line with the estimates of the Reserve Bank of India (7.5 percent contraction), and the National Statistical Office (7.7 percent contraction).

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For the first half of FY22, the RBI had forecast a real GDP growth rate of 14.2 percent.