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Resource centre on India's rural distress
 
 

Meeting the IMF, RBI forecast of 9.5% GDP growth this year now a challenge, says Dr Rangarajan -E Kumar Sharma

-Financial Express

Dr Rangarajan feels that perhaps we may end the year with GDP growth in the region of 7 or 8 per cent.

The much awaited news on the second quarter Gross Domestic Product (GDP) numbers showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21, has come as a dampner. Economists now see serious challenges in India being able to hit the full year GDP growth of 9.5 per cent that have been forecast by the International Monetary Fund (IMF) and the Reserve Bank of India (RBI).

The National Statistical Office (NSO) of the Ministry of Statistics and Programme Implementation, releasing the estimates of GDP for the second quarter (July-September) of 2021- 22 (Q2 2021-22) on Tuesday, November 30th , show the GDP at constant (2011-12) prices in Q2 2021-22 at 35.73 lakh crore, as against 32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21. For the first quarter as a whole too, there is much ground that still remains to be covered.

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