Last Updated: 01 May, 2022 04:54 AM
Mumbai: The Reserve Bank of India has said it will take 12 years for India to recover from the economic damage caused by the corona.
The Reserve Bank of India (RBI) has released a report (2021-22) on the corona curfew and the economic scars it has caused. It said: The economic recovery in the first quarter of the 2020-21 financial year. But in the 2021-22 financial year from April to June, the second wave of economic growth was affected. Similarly, the 3rd wave occurred in Jan. 2022 and caused damage.
Now the Russia-Ukraine war has affected international growth as well as domestic growth. From the financial year 2012-13 to the financial year 2019-20, India’s growth rate was 6.6 per cent, excluding the stagnant year. Of this, India’s growth in the financial year 2012-13 to 2016-17 was 7.1 per cent.
The growth rate for the financial year 2020-21 was minus 6.6 per cent. The growth rate for the financial year 2021-22 was 7.2 per cent and for the financial year 2022-23 it was 7.5 per cent. India will reach old growth only in the financial year 2034-35.
In the financial year 2020-21, Rs. 19.1 lakh crore and Rs. 17.1 lakh crore and Rs. 16.4 lakh crore and an economic loss of Rs. 52 lakh crore.
All these reports and comments have been prepared by the Economic and Policy Review (DEPR) Division of the Reserve Bank. It also noted that this was not the opinion of the Reserve Bank.
Additional measures taken to recover the economy from the corona have paved the way for achieving sustainable growth, the report said.