As the Gross Domestic Product (GDP) contraction in this fiscal year is expected to be less than 8%, Niti Aayog vice chairman Rajiv Kumar on Sunday said that the country’s economic growth is likely to reach pre-coronavirus levels by the end of the 2021-22 financial year. The Reserve Bank of India has also revised its forecast of economic growth for the current 2020-21 fiscal year to (-) 7.5% as against its earlier forecast of (-) 9.5%. India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5% and held out hopes for further improvement on better consumer demand.

(Live Mint)