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Double digit GDP growth expected in FY22: Report
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SME Times News Bureau | 11 Mar, 2021
As economic activities gather pace and investor sentiments revive, GDP
growth is likely to enter a double-digit growth trajectory and may grow
at more than 11 per cent in the next financial year, showed a report by
PHD Chamber of Commerce and Industry.
A sharp recovery in GDP
growth in Q3 FY 2020-21 at 0.4 per cent as compared with a contraction
of 7.3 per cent in Q2 and 24.4 per cent in Q1 2020-21 (as per revised
NSO estimates) is a result of impactful reforms undertaken by the
government since March 2020, said Sanjay Aggarwal, President, PHD
Chamber of Commerce and Industry.
"As a result of recovering
investor sentiment, the economy has potential to accelerate at 11 per
cent growth trajectory in the next financial year 2021-22 as envisioned
by the FY 2020-21 Economic survey of the Government of India," he said.
Aggarwal
noted that the series of broad-based policy measures undertaken by the
government during the last 11 months have enhanced the economic activity
at significantly higher level
PHDCI Economy GPS Index was 103 in February 2020, with an improvement of 19 points in February 2021 over February 2020.
The
trend in PHDCCI Economy GPS Index shows that the Indian economy is
moving forward in the direction of improved momentum as compared to that
of its level in February 2020, according to the President of the
industry body.
The PHDCCI Economy GPS Index during the period
April-February of FY 2020-21 stands at 92.4 as compared with
April-February FY 2019-2020 at 99.5. The growing trend of PHDCCI Economy
GPS Index indicates a stronger outlook of the Indian economy in the FY
2021-22, he said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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