The Indian economy had contracted by an unprecedented 23.9 per cent during the first quarter of this fiscal due to the impact of the coronavirus pandemic. However, the pace of contraction narrowed in the second quarter to 7.5 per cent. Agriculture has done better-than-anticipated and has been the real green shoot, he pointed out.”All in all, we are hoping that the economy should be back on track and we are hoping for a good robust growth in the next year obviously because of the low base effect also,” he added. The government is likely to present Budget 2021-22 on February 1 in Parliament.  Foreign direct investment and foreign portfolio investments have also witnessed a surge in the first half of the current fiscal.

(ET Auto Economic Times)