Currency and Finance Report
- April 30, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Currency and Finance Report
Subject: Economy
Section: Indian Economy
Context:
In its recent report “Currency and Finance Report” RBI has said that it would take more than a decade to recover from economic losses due to covid-19.
Details:
The pre-COVID trend growth rate works out to 6.6% and excluding the slow down years it works out to 7.1%. Taking actual growth rate of (-) 6.6% for 2020-21,8.9% for 2021-22 and assuming growth rate of 7.2% for 2022-23 and 7.5% beyond that, India is expected to overcome COVID-19 losses in 2034-35.
The output loss for individual years have been worked out at Rs19.1 lakh crore, Rs 17.1 lakh crore and Rs 16.4 lakh crore for 2020-21,2021-22 and 2022-23, respectively.