The Indian economy is expected to grow around 10% during the current financial year on the likelihood of fewer COVID-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, Director General of the economic think tank, the National Council of Applied Economic Research (NCAER).
The real challenge, however, would be to sustain a growth rate of 7-8% in the years to come, Ms. Gupta said.
“We could see annual growth in the ballpark range of about 10%. The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy,” she said.
“Even so, if two pandemic years are taken together, there would be a very small net growth. In other words, the economy at the end of 2021-22 would be only slightly larger than at the end of 2019-20,” she said.
