Bright crop prospects will boost rural demand, says NITI Aayog

The consumer price index (CPI) fell to 4.3 per cent in September 2021, the lowest since April 2021.

Record kharif output and bright prospects for the rabi crop will boost rural demand, which in turn will help in economic growth exceeding 10 per cent in 2021-22, the NITI Aayog has said.

This will spur a revival in the manufacturing sector with improving capacity utilisation by firms in the coming months, Vice-Chairman Rajiv Kumar said in the think tank’s latest publication, ArthNITI. His GDP growth projections are higher than the 9.5 per cent given by the Reserve Bank of India’s monetary policy committee.

In his foreword to the publication, Kumar said a significant increase in exports would boost growth and employment