India’s economy may grow at world’s fastest rate in FY22 despite Covid shock

India's economy is likely to grow at the fastest rate among all other major economies this year despite the deadly second Covid-19 wave. However, the projected 10% growth annual rate will depend on two key factors. Here is all you need to know.

India’s economy has been predicted to grow at the fastest rate among all major economies in the world this year despite the disruption caused by the second wave of Covid-19 pandemic. At the moment, India’s economy is on track to grow at 10 per cent in the fiscal year 2021-22, according to a median of 12 estimates compiled by Bloomberg news. It may be noted that the estimate has been shared after several ratings agencies downgraded previous growth forecasts for India due to the impact on the economy triggered by local lockdowns during the second wave of Covid-19.