Indian economy will rise again: Economist Ashima Goyal

New Delhi, Aug 30: Noted economist, Ashima Goyal, in the latest interview has stated that conditions that arose from the COVID-19 situation will going to change and India will strengthen its economical arm even more. She said that the recovery rate of India’s economy is going to be faster than most of the nations and India is ready for it too.

 

 

Goyal said, "Despite the Covid-19 severe shock, India's macroeconomy is more healthy and ready for faster growth than it has been for a long time. That recovery from both the first and second waves was faster than expected points towards inherent strengths of the economy."

 

Several agencies lowered India’s projected growth rate while the case is seemingly different. RBI estimates peg growth for FY22, first quarter GDP at 9.5% which will we highlighted at data release on 31st of August, 2021.

 

 

NITI Aayog’s Rajiv Kumar emphasized on various factors which are turning to be key changes in the economy sector. Rapid vaccination rate, Infrastructure push, improved agricultural condition due to good monsoon season are the main reason for the cash flow which is going to be happen in coming months.

 

Goyal who is also a member of Monetary Policy Committee (MPC) of the RBI, told the press that although there is great number of startups being launched, "we should not, however, expect the private infrastructure investment boom of the 2000s."

 

 

while talking on the similar issue, she also points out the importance of infrastructure projects in every sector of economy. “The focus on infrastructure is also useful since it creates jobs now and makes it easier to work late,” she said.