India needs to grow at 11% in next fiscal: Niti Aayog VC Rajiv Kumar

The Niti Aayog Vice-Chairman also noted that the Indian economy is now surging towards a recovery. 

New Delhi: India needs to grow at 10.5-11 per cent in real terms in the next fiscal and sustain that to overcome massive ill-effects of the COVID-19 pandemic, Niti Aayog Vice Chairman Rajiv Kumar said on Friday.

Kumar further said India needs to be prepared for the next pandemic as the country was caught unprepared during the COVID-19 pandemic.

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“We need to grow at 10.5 to 11 per cent in real terms  2021-22 and then sustain that to overcome massive ill-effects of the COVID-19 pandemic,” he said while addressing a virtual event organised by National CSR Network.

India’s economy is estimated to contract 8 per cent in fiscal 2020-21.

The  Reserve Bank of India (RBI) has projected India’s economic growth in 2021-22 at 10.5 per cent, while Chief Economic Adviser K V Subramanian has projected an 11 per cent growth for the same period.

The Niti Aayog Vice-Chairman also noted that the Indian economy is now surging towards a recovery.