India GDP 2021 : World Bank states India’s GDP to grow at 8.3 %
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As per the World Bank report, India’s GDP has been expected to grow at 8.3% in FY 2021-22.
The report predicts the economic growth in South Asian Countries to rebound stronger in 2021.
The forecast for India’s GDP is expected to be true only if supported by various welfare plans.
Economic growth in South Asian countries is expected to rebound to a stronger-than-expected 6.8 per cent in 2021 and India’s GDP is predicted to grow at 8.3 per cent, according to the latest World Bank report on global economy recovery post Covid-19 pandemic.
The global economy is set to expand by 5.6 per cent in 2021 – its strongest post-recession pace in 80 years.
“For India, GDP in fiscal year 2021/22 starting from April 2021 is expected to expand 8.3 per cent,”.
Activity will benefit from policy support, including higher spending on infrastructure, rural development, and health, and a stronger-than expected recovery in services and manufacturing.
The government announced that the health-related spending would more than double and set out a revised medium-term fiscal path intended to address the economic legacy of the pandemic.
March 31, the World Bank said India’s economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet.