News Details

Pandemic seen determining India’s growth rate this year


India’s economic growth may slip to 9.8 per cent if the second wave of Covid-19 peaks in May-end and can go down to 8.2 per cent if the peaking happens in June-end, according to domestic rating agency Crisil, maintaining its baseline estimate of 11 per cent uptick in activity.  It said the ongoing fiscal will be a story of two halves’ growth; the first one till September will be supported by a base effect despite the spread of the pandemic, while growth will be better spread in the second half stretching from October-March 2022. It added that while the lockdowns are less restrictive right now, the expanse of the area under such measures is increasing with the virus getting into rural areas where the healthcare infrastructure is weak, as per a report. 

 

Source: Exim News Service: New Delhi, May 12

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