What can we expect from the economy in 2021?
Answer
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This pandemic has caused the economy to fall below the expected levels, and consequently, almost every sector has faced its worst downturn. While many sectors managed to keep pace with their earlier performance, some just turned worst. Many sectors are still trying to roll out to achieve their best performance.
Some sectors have covered their lockdown losses and will show growth for the upcoming year. We can expect sectors like technology, finance & banking, automobile, healthcare will show tremendous growth in 2021. Whereas sectors like FMCG, insurance, services, food processing, manufacturing, etc. will be able to recover their previous fallouts.
So, we can see the upcoming year as a year of new opportunities. GDP for Q1 showed a contraction of 23.9% as against the contraction of 7.5% in Q2. As per the experts, the economy is growing better than expectations, and it can recover before the stipulated time.
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