India's economy is set for a 'V'-shaped recovery in the next fiscal year, thanks to a massive vaccination drive and an expected rebound in the services sector, the Finance Ministry's latest Economic Survey report said Friday.
Real GDP is set to grow 11.0 percent n 2021-22 after an estimated 7.7 percent contraction in 2020-21 financial year.
Elsewhere on Friday, the statistics ministry revised the 2019-20 GDP growth estimate to 4.0 percent from 4.2 percent. In 2018-19, GDP grew 6.8 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.