Indian Economy Should Close FY 2021-22 With A Double-Digit Growth: ASSOCHAM

Ahead of the festive season, there are signs of improved consumer confidence in several key sectors of the economy, including contact services like hospitality while activities in construction and renovation have been on a pick-up for the past few months leading to return of migrant workers for gainful deployment, an ASSOCHAM assessment has noted. Though on a low base, the Indian economy should close the financial year 2021-22 with a double-digit growth, sustaining the catch-up mode. The bounce back as witnessed during the first quarter of the current fiscal should consolidate into a sustainable trend, going forward.

As the Union Government along with the state governments of Kerala and Maharashtra are making coordinated efforts to bring the Covid 19 incidence down with a multi-pronged strategy, the overall situation with regard to the pandemic should further ease up. "While the governments, trade and industry are in a far better position to manage and live with the health challenges, further decline in the number of cases would add to the business confidence. However, Covid Appropriate Behaviour (CAB) would remain one of the most important weapons to defeat the pandemic. We in ASSOCHAM have been consistently reaching out to our members for maintaining a constant vigil on their workplace with CAB, the industry body noted.

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