Image: Shutterstock
India’s finance ministry on Friday tabled the Economic Survey which highlighted the point that the country is expected to clock a contraction of 7.7 percent in its GDP for the year to March 2021, hurt by the ‘once-in-a-century crisis’ in the form of the Covid-19 pandemic. The country has since seen a V-shaped recovery in several high-frequency economic indicators since the unlocking of the economy in June last year. The economic survey now projects the country to grow by 11.5 percent in FY22 with nominal GDP forecast at 15.4 percent. The survey brought out the need for a healthcare regulator, an asset quality review check for banks and an aggressive disinvestment programme from the government. Needed: Increased healthcare spend, a regulator