Indian economy to grow at 10 pc in FY 2021-22 in 'real terms', says NITI Aayog Vice Chairman
New Delhi | Jagran Business Desk: NITI Aayog Vice Chairman Rajiv Kumar said on Thursday that the Indian economy will grow at the rate of 10 per cent in 2021-22 in real terms, while the growth would be in positive figures by the fourth quarter of 2020-21.
The GDP had rebounded to -7.5% in Q2 from the record slump of 23.9 in the April-June quarter due to the nationwide lockdown enforced to contain the spread of novel coronavirus. Some sectors have bounced back with resumption of economic activities.
Speaking to news agency ANI, Kumar said the economy will reach the pre-COVID levels by the end of next year. "Our economy will grow at 10 per cent in 2021-22 in real terms. By the end of next year, we will reach pre-COVID level. Growth will be positive in the fourth quarter of 2020-21.
The electricity, gas, water supply and other utility services have shown a growth of 4.4 per cent in Q2; agriculture, forestry and fishing sector at 3.4 per cent and manufacturing sector showed a marginal growth of 0.6 per cent.
On being asked about the ongoing farmers' protest, Kumar said the government is ready to clear any apprehensions of the farmers and committed towards the betterment of their lives.
"To farmers I say with confidence and trust that the government is only concerned about how to better the lives of farmers and how to increase their income. These laws have been supported in the past by those who are in opposition now. Also, the government is now ready to discuss all the issues. The government is ready to clear any apprehensions of the farmers. I hope that farmers will understand," he told the agency.
Posted By: Lakshay Raja