Economy to continue on recovery mode, say experts

TIL Desk/Business/New Delhi/ With India’s GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government’s actions are bearing fruit.

In a tweet, Vedanta chairman Anil Agarwal said, “Q2 #GDP numbers show that economy is recovering. Government’s efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22.”

CII director general Chandrajit Banerjee said, “the sharp rebound in the second quarter GDP print to -7.5 per cent as compared to the large unprecedented -23.5 per cent decline seen in the previous quarter will boost confidence that with the easing of lockdown restrictions over the past few months, there has been a discernible improvement in the economy.”