India’s economy shrank less than estimated in the 2020-21 fiscal year, revised figures from the statistics ministry showed Monday.
Gross domestic product decreased a real 6.6 percent in the fiscal year ended March 31, 2021, latest data showed. In May 2021, the ministry had estimated a 7.3 contraction.
Growth for the fiscal year 2019-20 was revised down to 3.7 percent from 4.0 percent.
In the latest annual Economic Survey, released earlier on Monday, the government estimated growth of 9.2 percent for fiscal year 2021-22.
The government also projected GDP expansion of 8-8.5 percent for fiscal 2023.
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