How much will India’s GDP increase, what does the Goldman Sachs report say?

GDP Growth: Brokerage company Barclay had said that the growth rate will be 10 percent in the current financial year. Whereas in the next financial year it will come down to 7.8 percent.

Apart from this, there is a gradual increase in investment from the private corporate sector and investment in housing investment has increased.

The central government is continuously taking decisions for recovery in the economy. With the rapid vaccination, the economy has also started showing recovery. According to the news of Business Standard, Wall Street brokerage Goldman Sachs estimates that India’s GDP will grow at the rate of 8.5 percent in the year 2021-2022 and it will increase to 9.8 percent in 2022-23.

India’s GDP rate will overtake America and China

In terms of growth rate, India’s GDP rate will be 8.5 percent in the current financial year 2021-22, leaving behind America and China and it will increase to 9.8 percent in the next financial year 2022-23. The country’s growth rate declined to 7.3 per cent in the pandemic-hit financial year 2020-21 and is widely expected to grow at a faster pace in 2021-22 due to the base effect. The Reserve Bank of India (RBI) forecasts a growth of 9.5 per cent in 2021-22, and will slow to 7.8 per cent as things return to normal.

Government can increase capital expenditure

Goldman Sachs has said in a report that we expect consumption to be a significant contributor to growth in 2022, as the economy has fully reopened due to the improvement in the corona virus situation and rapid vaccination. That means the economy is improving. It has been said in the report that the government can increase capital expenditure. Apart from this, investment from the private corporate sector is also showing a gradual increase and investment in housing investment has increased.

Goldman Sachs said that as growth picks up, the RBI will begin its policy normalisation, and expects a cumulative rate hike of 0.75 per cent in 2022. Earlier, UK brokerage company Barclay had said that the growth rate will be 10 percent in the current financial year. Whereas in the next financial year it will come down to 7.8 percent.

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