By : World Bank

Details :

• The projected growth (8.3%) is supported by an increase in public investment to bolster domestic demand and schemes like the Production Linked Incentive (PIL) to boost manufacturing.
• Gross Domestic Product (GDP) increased by 20.1% in the first quarter (April-June quarter) of financial year 2021-22 in the backdrop of “a significant base effect, limited damage to domestic demand and strong export growth”.
• In the first quarter of financial year 2020-21, GDP contracted by 24.4% because of nationwide coronavirus lockdown.
• Disruption in India’s economy during the second wave of the pandemic was limited, compared to the first.
• Suggestions:
  • Rethink policies about medium term growth
  • Build social protection and adopt greener policies, because the next shock might be from the environment.
  • Integrate the informal sector and women into the economy