Alternative energy sources, a surge in less energy-intensive service industries and more energy-efficient vehicles make us less dependent on oil
Sitharaman said that the next year's increase would be somewhere between 8% and 9%, with a range of 7.5 to 8.5%.
World is expected to grow at 5.9% in 2021 and 4.9% in 2022, according to the World Economic Outlook update
Since the covid curbs have been lifted, Indian economy has made a strong comeback, with a majority of economic indices showing signs of improvement
Since March 2020, the RBI has kept the repo rate at 4%, due to its focus on supporting the economy
A gradual fiscal consolidation will further boost the sentiment, say analysts
In the financial sector, the introduction of Insolvency and Bankruptcy Code has led to resolution of stressed assets worth Rs 2.4 lakh crore
Indian manufacturers increased production in September as they prepared for improved demand and stock replenishment
Experts have said swift vaccinations can allow the economy to overcome the pandemic woes.
Chief Economic Advisor Krishnamurthy Venkata Subramanian, is confident in India's economic potential and stated that he expects India's GDP near 7%.