According to Government, there is no case for revising the growth estimates downward from current 7.5% as of now. Not only this, no rating agency has talked about growth rate which is lower than 7.5%. According to NSA’s latest data released on 31.05.22, India’s economy grew at 8.7 percent in 2021-22 against the 6.6 percent contraction in 2020-21. At 4.1 percent, the growth in the January-March (Q4) of Financial Year 2022 was the lowest among four quarters but higher on a yearly basis.
Source Taxguru
