New Delhi: The data released by the Union Ministry of Statistics has showed that the country’s GDP has recovered swiftly to clock a growth of 20.1 percent in the April-June quarter of FY22 as against a contraction of 24.4 percent seen in the same period of the previous year.

There has been a 49.6 percent growth in Manufacturing and 68.3 percent growth in construction. However, much of the growth is due to the low base in Q1 FY21. Though the Q1 growth is a tad lower than RBI's expectation of 21.4 percent growth, it is still on course to make a good recovery taking the economy back to its pre-Covid size.

According to a Bank of Baroda economic research, GDP is expected to grow at 9.7 percent in FY22. The improving pace of vaccinations, government tax collections, exports and corporate investments in select sectors are a tailwind for growth, it has said. Even a report by Kotak Institutional Equities expects GDP growth of 9 percent in FY22 against RBI's own projections of 9.5 percent growth. But the brokerage has cautioned that growth momentum may get disrupted if a third wave of the pandemic comes before a larger population gets fully vaccinated.

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