Indian Economy to See Double-Digit Growth: Niti Aayog Vice Chairman


New Delhi, July 11. In the background a disturbance in economic activities due to COVID, Niti Aayog Vice Chairman Rajiv Kumar on said that the economy will register a double-digit growth in 2021-22 and the disinvestment landscape also looks better, PTI reported.

Addressing the pandemic's impact, he said that the country has come out of the two waves with better preparation in case of a next surge.

"I think the government is far better prepared now to face the third Covid wave, if at all it does come up. I feel the impact of the third wave on the economy will be much weaker than it was during the second wave and the beginning of the first wave," he said.

 He said, "We are now hopefully getting past our (Covid-19) pandemic and the economic activities will be strengthened as we get into the second half of this (financial) year given what I have seen for example various indicators, including the mobility indicators."

The India economy had contracted by 7.3 per cent in the financial year which ended on 31 March, 2021.

These revisions have come in view of the the lagged recovery after the second COVID surge.

Suggesting the possibility of a strong bounce back, the Reserve Bank of India (RBI) has estimated the economic growth at 9.5 per cent in the present fiscal year.

Further, Kumar has stated that in some sectors like steel, cement and real estate, significant investment in capacity expansion is happening already,