what is the present(2020 to 2021)economic status of india ?
Answers
today India's gdp is negative 7.8 %
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Answer:
The IMF has projected an impressive 12.5 per cent growth rate for India in 2021, while S&P Global Ratings has said the Indian economy is projected to grow at 11 per cent in the current fiscal.
In its last policy review, the RBI had projected a GDP growth rate of 10.5 per cent for FY'22. According to India's statistics office, the economy projected to contract 8 per cent in 2020-21 while the Economic Survey 2020-21 sees 11 per cent growth in 2021-22. Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 per cent from 11.8 per cent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic.
Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.