“Will take another 12 years to make up for the loss”: RBI on Indian economy

News Desk: An RBI report said that India’s economic growth has been hit hard by the Corona and it will take 12 years to make up for this loss.

According to the report “The Indian economy contracted by 6.6% in FY 2020-21. In 2021-2022, the economic growth reached 8.9%. The manufacturing sector tried to recover after the Corona’s first wave, but the second wave of Corona struck again in April 2021. The wheel of the economy came to a standstill again. The same thing happened with the third wave”.

The report further said “The Indian economy suffered a loss of 19.1 lakh crore in FY 2020-21. The loss came down to 17.1 lakh crore in FY 2021-22 and 16.4 lakh crore in FY 2022-23. It will take another 12 years for India to make up for the loss in the Corona situation”.