New Delhi: The Indian economy is estimated to grow at 9.2 percent in 2021-22 fiscal, surpassing the pre-Covid level in actual terms mainly on account of improved performance, especially in farms, mining, and manufacturing sectors.

The improvement in the economy comes over a GDP contraction of 7.3 percent during 2020-21 due to the pandemic and resultant lockdown imposed to curb the spread of the deadly coronavirus.

As per the first advanced estimates of the national in- come released by the National Statistical Office (NSO) on Friday, growth is witnessed across sectors.

"Real GDP or GDP (gross domestic product) at Constant Prices (2011-12) in the year 2021-22 is estimated at Rs 147.54 lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of Rs 135.13 lakh crore, released on May 31, 2021. The growth in real GDP during 2021-22 is estimated at 9.2 percent as compared to the contraction of 7.3 percent in 2020-21," as per the NSO statement.

As per the estimates, GDP in actual terms in 2021-22 will surpass the pre-Covid level of Rs 145.69 lakh crore in 2019-20.

The pandemic hit the country in March 2020, resulting in a nationwide lockdown from March 25, 2020, which severely dented the economic growth in 2020-21 fiscal. The economy contracted by 7.3 percent in 2020-21.

Source: PTI