New Delhi: Industry body PHD Chamber of Commerce and Industry (PHDCCI) on Monday said that the economy will account for 10.25 per cent of GDP in the financial year 2021-22 due to effective policies of the government, liberal policy stance of Reserve Bank of India and better business sentiments. Moving towards achieving growth.
The Reserve Bank last week retained its growth forecast for the current fiscal at 9.5 per cent and termed global semiconductor shortages, rising commodity prices and volatility in global financial markets as downside risks to economic growth. was marked in.
Pradeep Multani, President, PHD Chamber of Commerce and Industry, said, “Double digit GDP growth is projected at 10.25 per cent in FY 2021-22, which is due to effective policies of the government, liberal stance of RBI and better business sentiments in the country. supported by.
The industry body said that the decline in new cases of corona virus infection, rapid vaccination campaign, improving consumer and business confidence, anticipated heavy demand in the upcoming festivals will further accelerate the pace of economic recovery in the coming months.