No Signs of Economic Recovery
Although our GDP in the first quarter of 2021-22 has grown by more than 20%, we are far from any recovery. In the pre-COVID years, between 2011-12 and 2018-19, India averaged a 5.3% GDP growth in the June quarter.
Although our GDP in the first quarter of 2021-22 has grown by more than 20%, we are far from any recovery. In the pre-COVID years, between 2011-12 and 2018-19, India averaged a 5.3% GDP growth in the June quarter. That is our 'trend' growth path. Right now, per capita real GDP is 20% lower than what it should have been. It will take a long-time for us to return to that path of economic growth.
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