On May 31, important updates regarding India’s GDP growth and the Centre’s fiscal performance for 2020-21 became available. According to NSO’s provisional estimates for 2020-21, the annual contraction in real GDP turned out to be 7.3 per cent, an improvement over the earlier estimate of 8 per cent. A real GDP growth of 7.8 per cent would be required in 2021-22 to reach back to 2019-20 real GDP levels.
