With India's economic growth averaging over 8 per cent in 2021-24 as compared to 7 per cent during 2003-19, the Reserve Bank of India's state of the economy report said there is a shift in the trend growth rate after the pandemic, which is powered by domestic drivers.
"There is increasing evidence that in the post-pandemic years, a trend upshift is taking shape, which is shifting India's growth trajectory from the 2003-19 average of 7 per cent to the 2021-24 average of 8 per cent or even more, powered by domestic drivers," the report authored by RBI staffers, including deputy governor Michael Patra.
Views of the report are those of the authors and do not represent the views of RBI, it was clarified.
The report said that India's real GDP growth of 8.2 per cent in FY24, which is the highest rate since 2016-17, barring the post-Covid rebound in 2021-22, has "stunned all projections".
Denne historien er fra June 20, 2024-utgaven av Business Standard.
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Denne historien er fra June 20, 2024-utgaven av Business Standard.
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