Economic Survey 2021 Projects 11% Growth Next Fiscal Year

India forecasts robust economic growth of 11 per cent for the fiscal year beginning on April 1 in its annual economic survey on Friday, on the back of the beginning of a nationwide coronavirus vaccination drive and a rebound in consumer demand. The economy, which the International Monetary Fund singled out as a global bright spot only a few years ago, is set to contract 7.7 per cent in this fiscal year, to March 31, the deepest contraction in four decades, the government said in the survey. But the government predicts the rollout of vaccines against COVID-19, which has killed 153,847 Indians, will re-energise Asia's third-largest economy with 11 per cent growth next year, putting it on track to post the strongest growth since India liberalised its economy in 1991.