The Asian Development Bank (ADB) upgraded its forecast for the Indian economy, projecting 8% contraction in 2020-21
The government is cautiously optimistic on the economic front and will continue to take measures to push growth, Economic Affairs Secretary Tarun Bajaj said on Friday.
Addressing Ficci’s Annual Convention, he said the second quarter GDP number was much better than market expectations and it will further improve in the second half of the current fiscal.
The economy contracted by 7.5% in the second quarter, as against 23.9% degrowth in the first quarter of this fiscal on account of the COVID-19 pandemic.
“So we are positive. We are cautiously optimistic on the economic front. And we are hoping that our third and fourth quarter will be far better than the second quarter.
Source: livemint
