New Delhi, December 31: NITI Aayog Vice-Chairman Rajiv Kumar on Thursday said that the Indian economy will grow at 10 percent in 2021-22 in real terms. "By the end of next year, we will reach pre-COVID level. Growth will be in positive figures in the fourth quarter of 2020-21," he added.
The coronavirus pandemic affected the Indian economy severely and it led to job losses, businesses being shut among others. However, with the relaxation of the lockdown, the economy started showing green shoots of revival.
According to a PTI report, India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post-COVID-19 pandemic and the country's large market will continue to attract investments. Indian Economy Reviving at Unforeseen Pace, Says RBI.
Indian Economy Forecast: 'By The End of 2021, We Will Reach Pre-COVID-19 Level'
Our economy will grow at 10% in 2021-22 in real terms. By the end of next year, we will reach pre-COVID level. Growth will be in positive figures in the fourth quarter of 2020-21: NITI Aayog Vice Chairman Rajiv Kumar pic.twitter.com/yRORIWGgIJ
— ANI (@ANI) December 31, 2020
As economic activities gather momentum and strive to get back to pre-Covid levels, the Reserve Bank of India recently said that the Indian economy is reflating at a pace higher than most predictions.