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Finance Ministry cautiously optimistic about economic revival in late FY21

In its macroeconomic report, the finance ministry did not reveal its projections for 20120-21

Topics
Finance Ministry | Economic recovery | Lockdown

Indivjal Dhasmana  |  New Delhi 

economy
Chief Economic Advisor Krishnamurthy Subramanian also pegged the GDP growth at 2 per cent for FY'21

The government said on Wednesday that it was aware of the effect of the on economic activity in the country and was cautiously optimistic about the revival of growth later in the year.

In its macroeconomic report, the did not reveal its projections for 20120-21. It, however, said the International Monetary Fund (IMF) had projected India’s GDP growth in FY 2020-21 at 1.9 per cent and 7.4 per cent a year later.

ALSO READ: Actual GDP growth in FY21 depends on intensity of Covid-19: FinMin Report

Chief Economic Advisor Krishnamurthy Subramanian also pegged the GDP growth at 2 per cent for FY'21.

His predecessor Arvind Subramanian, however, had doubted IMF's projections and said the projection was too optimistic.

First Published: Wed, May 20 2020. 22:07 IST
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