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India is well-positioned for rapid recovery, with growth impulses seen in all sectors of the economy, a report by the finance ministry stated, according to The Times of India.
The monthly economic report for September by the finance ministry’s department of economic affairs has said, “sustained and robust growth in agriculture, a sharp rebound in manufacturing and industry, return of services activity, and buoyant revenues show that the economy is developing well.”
“Strategic reforms implemented till now, as well as new milestones in the immunisation campaign, have helped the economy to traverse the devastating waves of the Covid pandemic,” the report stated.
Since the covid curbs have been lifted, the Indian economy has made a strong comeback, with a majority of economic indices showing signs of improvement.
According to economists, the economy will increase by double digits in the current fiscal year, which ends in March. The RBI has kept the growth target for 2021-22 at 9.5%.