The daunting impact of COVID-19 has drastically impacted the growth trajectory of Indian economy, which decelerated to (-) 7.3% in FY 2021 as compared to the 4% in FY2020. However, the meaningful and proactive reforms undertaken by the Government in last many quarters have pulled the economy from the lows of Q1 FY 2021. The GDP growth recovered in Q4 FY 2020-21 at 1.6% as compared with 0.5% in Q3, (-)7.4% in Q2 and (-) 24.4% in Q1, thereby taking the overall growth rate for FY 2021 to (-)7.3%.