New Delhi: India’s economy may reach the pre-pandemic level if it grows in the range of 8-10% because some high frequency indicators have reached the pre-pandemic level, experts say.
The RBI estimates that the economy grew by 9.5% in the current fiscal which ended in March.
The IMF on Wednesday slashed the estimated growth of Indian GDP for FY22 to 9.5% of the previous projection of 12.5%.
At this level, the Indian economy will be able to scratch back to the pre-pandemic level.
Head of Economic Advisor Krishnamurthy Subramanian told TII in an interview that the current level of GDP growth in fiscal will not be too far compared to the estimated growth of 10.5%.
Reading also either has the fuel tax they or more more more more is a lottery Krishnamurthy Subramanian sure of strong growth in 2021-22 against the background of the second covid-19 pandemic.
In an interview to TOI, Subramanian said inflation must immediately come in a comfortable distance.
Quotes: How you see the economic situation “At this level, India will be able to restore the loss of FY21 GDP, it is a matter of debate about what will be a permanent loss in the output,” said Soumya Kanti Ghosh, the economic chairman of the Advisory group in SBI.
“The problem, however, when India can reach the level of prepandemi.
Such levels can be in the form of economic activity or at the level of pre-pandemic output.
While some high frequency indicators have returned to the pre-pandemic level, it may need to reach the Pre20 Pre20 output level , “Ghosh said.
Read various economies grew 1.6% in Q2, returning to pre-pandemivaccination measures and federal assistance helped lift the US economy from pandemic holes caused by this spring.
The next test is whether the momentum can continue because the Coronavirus case rises, the back mask and government assistance.
Subramanian also said that some high frequency indicators at the macro level actually showed pattern-v.
He also said India was the only country in the world, which has shown two consecutive positive quarters, while no other country did it in the middle of a pandemic.
“We hope that FY23 growth is between 6.5% to 7% and thus accelerates from there towards a range of 7% to 7.5%,” Subramanian said.