Sat. Dec 4th, 2021
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New Delhi. The Prime Minister’s Economic Advisory Council has projected GDP growth at 7-7.5 per cent in FY2022-23. The estimate comes after a discussion at a key meeting of the Prime Minister’s Economic Advisory Council today. The meeting discussed the country’s economy, after which economic growth was projected for the financial year 2022-23.

The council said in a statement that there would be a recovery in the contract intensive sector and construction sector. At the same time, private investment is expected to increase. Based on all this, GDP is projected to grow by 7 to 7.5 per cent in the next financial year. In addition, rating agency Icra (ICRA) has raised its GDP growth forecast for the second quarter of the current fiscal to 7.9 per cent. The rating agency’s decision comes in the wake of a surge in government spending in September.

Let me tell you that earlier Icra had kept this estimate at 7.7 per cent, which has now been increased to 7.9 per cent. In addition, the central bank RBI has projected a growth of 9.5 per cent in FY2022. In addition, ratings agency Fitch Ratings has projected India’s GDP growth at 8.7 per cent in 2021-22.

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