Budget 2021-22: GDP growth target 7.25%; inflation rate expected to be 5.3%

The government has targeted a 7.2 percent growth of gross domestic product (GDP) in the 2021-22 fiscal year.

The finances ministry has set the growth rate target considering the government's long-term plan and the post-Covid recovery situation.

For the current fiscal year, the GDP growth rate has been revised to 6.1 percent, which was originally estimated to be 8.2 percent.

In the 2018-19 fiscal, the GDP growth rate was 8.15 percent which slowed down to 5.2 percent in 2019-20 due to the pandemic.

For the upcoming fiscal year, the government expected that the inflation rate will be 5.3 percent.