Economic Survey pegs India's real economic growth in 2021-22 at 11%

India's economy could contract 7.7 per cent in the financial year that ends on March 31, the survey said.

India’s economy could contract 7.7 per cent in the financial year that ends on March 31, pulled down mainly by the coronavirus pandemic and the weeks-long nationwide lockdown to contain the disease, Chief Economic Advisor Krishnamurthy Subramanian has estimated in the Economic Survey 2020-21, tabled in Parliament on Friday. Real GDP growth could be 11 per cent in the next financial year, the survey said.

"Agriculture has remained the silver lining, while contact-based services, manufacturing and construction sectors were the worst hit by the COVID-19 pandemic,” said the survey. It predicted a V-shaped economic recovery spurred by India's Covid-19