Key sectors look to add capacity, fuel hopes for a robust recovery

NEW DELHI: Most Covid-battered economies are growing again. Even with a third wave of infections surging around the world, most economies including India’s are expected to report robust growth for 2021-22.
SBI recently quoted government data to estimate that the nominal GDP (calculated at current prices, without adjusting for inflation) will grow at 17.6 per cent in 2021-22, a rate second only to the one clocked in 2010-11. This would take the overall GDP to 1 per cent above the pre-pandemic level in 2019-20.
But what is fuelling hopes of a more sustained recovery in the months and years beyond March 2022 is an in-house survey by India’s biggest lender. It shows that all sectors of industry, the segment that accounts for a quarter of India’s economic output, are borrowing again, a trend that picked up from September 2021. Some large sectors plan to add capacity too, indicating…

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