Economic recovery will start from June, to gather pace from July 2021: Niti Aayog's Rajiv Kumar

Niti Aayog's Vice Chairman Rajiv Kumar said on Saturday that the economic recovery will start from June 2021 and gather pace in July.

Days after the Reserve Bank of India (RBI) lowered the country's growth forecast for the current financial year by a percentage point to 9.5 per cent, Niti Aayog's Vice Chairman Rajiv Kumar said on Saturday that the economic recovery will start from June 2021 and gather pace in July. In a statement, Rajiv Kumar said the growth projections will be revised once the economy starts recovering. "The recovery will start from June itself and will get pace from July 2021," Rajiv Kumar said. The Niti Aayog vice chairman also said that the RBI cut the GDP growth forecast for Financial Year 22 to 9.5 per cent from 10.5 per cent due to the impact of the second wave of the coronavirus, which, he said, is going to impact our economy in 1st quarter.