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New Delhi: In the current financial year, the economic growth of the country will grow at 7 percent, according to the monthly economic report of the Ministry of Finance.
The report also said: Despite the unfavorable global economic situation, the GDP growth in the current financial year is expected to be 7 percent.
Retail inflation is also expected to moderate, in line with the fall in headline inflation last January.
The country’s current account deficit is expected to narrow in the current fiscal year and the next fiscal year on account of rising services sector exports, moderate crude oil prices, and decline in consumer imports.
Amid manageable current account deficits, high economic growth among major economies in the current fiscal year, challenges are now emerging from the spread of new infections and geopolitical pressures. This has been reported.