Former Finance Secretary SC Garg on Monday said the fresh Covid-19 wave and consequent local lockdowns may bring down the economic growth to less than 10 per cent in the current fiscal.
Earlier this month, International Monetary Fund (IMF) projected an impressive 12.5 per cent growth rate for the country in 2021. The Economic Survey projected a growth rate of 11 per cent, while RBI retained its growth forecast at 10.5 per cent for the ongoing financial year.