Economy will recover below than expected in 1st quarter: NITI Aayog
NITI Aayog Vice Chairman Rajiv Kumar shared his opinion on the RBI cuts growth forecast for FY22. According to him, 2nd wave will not impact fiscal deficit target much, it will have a slight impact. Covid-19 has forced govt to invest more, spend more on public infrastructure, but it will not have much impact as our GST collection has increased."RBI cuts GDP growth forecast for FY22 to 9.5% from 10.5% due to impact of 2nd wave, which is going to impact our economy in 1st quarter. Economy will recover below than expected in 1st quarter. Our economy will grow at a pace of 10%-10.5% in FY22", said by Vice-Chairman Rajiv Kumar.