India To Record Economic Growth Of 7% in 2021-22 Says UNESCAP

The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) said in a latest update that India's economic output in 2021 is estimated to remain below the 2019 level. Despite a robust reduction in new Covid-19 cases and the start of vaccine roll-out, India's 2021 economic output is expected to remain below the 2019 level, said a report by UN body titled Economic and Social Survey of Asia and the Pacific 2021. It also noted that maintaining low borrowing costs while keeping non-performing loans in check would be a challenge. India is estimated to record an economic growth of 7% in 2021-22, over a contraction of 7.7% witnessed in the previous fiscal on account of the pandemic's impact on normal business activity.

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