India to witness growth in next fiscal
December 22, 2020
India has been affected very adversely this year due to the coronavirus pandemic, according to the predictions the Indian economy is expected to grow at 10% in the next two years. The PMI manufacturing index is at its highest in the last 12 years.
The economy suffered adversely in the first quarter of 2020-21 due to the coronavirus pandemic, the compression, however, narrowed to 7.5% in the second quarter. Stronger sales of cars, rising production & higher goods, and service tax revenue collections indicate that the economy is back on track since the unlock started in the country, backed by festive season demand.
Sustaining the bounce back will be challenging in the upcoming years if the coronavirus cases keep on increasing. It is expected that India’s GDP to bounce back to double digits in the next two years. The government’s effective policies & business strategies should help the economy growly rapidly from the next fiscal.