Business Desk: The report by domestic rating agency Brickwork said that with the improvement in economic activity, the real GDP growth of the country could go up to 11 per cent in the next financial year. The report says that after relaxation of restrictions, economic activity is gradually reaching the pre-covid-19 position. Only those areas are behind, where the rules of social distance have not been able to catch up.
Significant signs of improvement in the economy Brickwork said in the report that the progress in making effective vaccines for rescue of covid-19 and the domestic economy are showing signs of better than expected. In such a situation, it can be assumed that in FY 2021-22, real GDP can grow by 11% on the basis of constant price. This increase will be compared to the projected decline of 7 to 7.5 per cent during the current financial year. According to the first advance estimate of GDP growth released by the National Statistics Office (NSO) for the fiscal year 2020-21, the country's GDP will decline by a record 7.7 percent.
In different sectors, the
rating agency has said that during the second half of the current financial year, the economy will register positive growth. However, the pace of reform remains slow in some areas facing difficulty in following social distance norms. Despite all these things, the scenario has improved for the next financial year after vaccination and vaccination. The agriculture sector will continue to grow at 3.5 per cent in the next financial year. However, these estimates are based on the general monsoon and the effective implementation of agricultural reforms. According to the agency, industrial sector is expected to achieve 11.5 per cent and service sector growth of 11-12 per cent in FY 2021-22.