However the second wave of COVID-19, Chief Financial Adviser (CEA) Ok V Subramanian on Monday expressed hope that financial development throughout the present monetary 12 months could be round 11 per cent as projected within the newest Financial Survey.
He additionally stated the general influence of the second wave on the economic system won’t be very massive.
“We can be in that ballpark,” Subramanian stated when requested if the Financial Survey’s goal of GDP development can be met within the backdrop of the second wave of the pandemic.
The Financial Survey 2020-21, launched in January this 12 months, had projected GDP development of 11 per cent throughout the present monetary 12 months ending March 2022.
The Survey had stated development can be supported by supply-side push from reforms and easing of rules, push for infrastructural investments, enhance to manufacturing sector by the Manufacturing-Linked Incentive (PLI) schemes, restoration of pent-up demand, improve in discretionary consumption subsequent to rollout of vaccines and choose up in credit score given enough liquidity and low rates of interest.
“We are going to develop at a excessive development