The Care Ratings agency has estimated the Gross Domestic Product (GDP) growth rate of India to be in the range of 8.8 to 9 per cent in the current financial year, that is 2021-22 (FY22). The country’s economy had contracted by 7.3 per cent in fiscal 2020-21.
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The report also said the fiscal deficit for FY22 is projected between Rs 17.38 lakh crore to Rs 17.68 lakh crore. The main drivers of the economy would be the agriculture and industry sectors.
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