“Sustained and robust growth in agriculture, sharp rebound in manufacturing and industry, resumption of services activity and buoyant revenues are suggesting that the economy is progressing well,” according to the monthly economic report for September prepared by the finance ministry’s department of economic affairs.
“Strategic reforms undertaken so far along with new milestones in vaccination drive have enabled the economy to navigate the ravaging waves of the Covid pandemic,” said the report.
The Indian economy has scripted a robust recovery since the lifting of restrictions after the second wave and a majority of economic indicators are gathering momentum. Economists reckon that the economy is expected to grow close to double digits in the current fiscal year that ends in March. The RBI has retained its growth forecast of 9.5% for 2021-22.