Economy to reach pre-Covid levels by 3rd quarter: Finance ministry advisor

New Delhi: Sanjeev Sanyal, Principal Economic Advisor to the Ministry of Finance, on Friday said that the Indian economy would reach pre-Covid levels by the third quarter of October to December this year.

His remarks came as the government data released on August 31 showed that India’s GDP grew by 20.1 per cent in the April to June quarter (Q1 FY22) as compared to the contraction of 24.4 per cent in Q1 FY21.

“We will be able to hit pre COVID level by the October to December quarter, assuming obviously we do not get hit very major shock from a third wave or some such thing. I think if there is no major shock, then we are on stream for having double-digit growth not just this year but even in next year, because there’s a lot of momentum in the economy,” he said.

Commenting on the rally in stock markets, the Principal Economic Advisor said he cannot comment on the stock market because that goes up and down but the