Indian economy to see positive growth in fourth quarter of current fiscal

Indian economy to see positive growth in fourth quarter of current fiscal

• By Staff Writer

The Indian economy is coming out of the pandemic-induced degrowth and GDP growth will enter the positive territory in the fourth quarter of this fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Wednesday.

"The second-quarter GDP figure (contraction of 7.5 percent) reflects that the economy is coming out of this pandemic-induced degrowth phase and my expectation is that in the third quarter, we will achieve the same level of economic activity as the year-ago period.

"And the fourth quarter will show a small but positive growth over the previous year because the government has... ushered in many structural reforms and some more are in the pipeline," he said.

Stating that all those reforms will provide a very strong foundation for accelerating the economic growth in the fiscal year 2021-22 and beyond, Kumar said, "we have now shrugged off the negative impact of the pandemic and are moving towards a sustained high growth trajectory in the coming years".