Mumbai: The Indian economy is expected to grow by 10.1% in the 2021-22 financial year, according to ratings agency Icra. Icra says that normalizing people’s lives will increase the rate of growth. Icra speculates that the distribution of the Covid vaccine has started or people have started living a normal life.
GDP is expected to decline by 7.8% in the current financial year. According to official figures from the government itself, a fall of 7.7% is expected. The fiscal deficit between the central and state governments will be 8.5% in the coming financial year. Icra estimates that this could be 12 to 13% in the current fiscal.