Economic Recovery of India: growth rate increased by 10%

Sowmiya Sriram
Economic Recovery of India: growth rate increased by 10%

This year's trade after diwali has been high compared to last year by 1.25 lakh crore.  Adding to this, GST revenue for october was 1.30 lakh crore. This is 2nd highest since GST introduction. The excise duty on petrol and diesel on the eve of diwali and the government taking steps to reduce petrol and diesel prices will create confidence among people and help in the country's economy. Corona is still spreading in many other countries like the united kingdom and Russia. india has surpassed the corona spread and the third wave is postponed by the largest vaccination drive conducted by the Central government. This also made india proud on the world stage.

                             It is also been predicted that India's GDP growth will be 2.8 trillion by the end of this year. It is so encouraging to see India's growth by 10% while china is 2%. But, there are challenges for india in the upcoming years. india is the second-largest in steel production after China. Its prices started to increase in late 2021. The exports from china have stopped to india which is the reason for the reduction in the container. This is the main challenge for the whole nation. To cope up with the cost of living in india, India's vision is different from other countries. Its belief in the medical structure is making india stand on its own.


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