India to overcome Covid-19 pandemic losses by FY35, says RBI report

6.5-8.5% is the feasible range for medium-term steady state GDP growth in India

It is only by 2034-35 that India is expected to make good the losses arising from the pandemic, the “Currency and Finance Report” of the Reserve Bank of India (RBI) has said.

“Taking the actual growth rate of (-) 6.6 per cent for 2020-21, 8.9 per cent for 2021-22 and assuming growth rate of 7.2 per cent for 2022-23, and 7.5 per cent beyond that, India is expected to overcome Covid-19 losses in 2034-35,” said the report, released once every year.

“The output losses for individual years have been worked out to Rs 19.1 lakh crore, Rs 17.1 lakh crore and Rs