Confident of full recovery in the next fiscal, says Finance Ministry

NEW DELHI:  With the vaccination drive gathering steam and a steady improvement seen in economic indicators, the government is confident of a full recovery in the next fiscal year.

“The structural reforms and the policy push under the AatmaNirbhar Bharat Mission along with the slew of measures announced in the Union Budget 2021-22 towards achieving broad based inclusive growth will strengthen the fundamentals of the economy and bring it back on to a strong and sustainable growth path in the year ahead. Growth and inflation outlook in 2021-22 portends more than full recovery,”  the monthly economy report released by the Ministry of Finance said on Tuesday.

The ministry’s Department of Economic Affairs added that with each day ending with Covid-19 cases falling to new lows and economic activity levels attaining new peaks, India has worked its way around the pandemic. “A sustained and strengthening economic recovery continues to be witnessed across key high frequency indicators... GST collections in January, 2021 have been the highest monthly collections so far,” the report pointed out.