11 APR,2021 | MEDC
The IMF raised its projection for India’s economic growth in the current financial year by one percentage point to 12.5%. This suggests that India would again become the world’s fastest growing large economy. India is the only major world economy predicted to grow at a double digit rate during FY22. This is encouragingnews but we also need to remember that India is witnessing a huge recent rise in Covid cases, leading to partial lockdowns in some areas of the country. However, despite high uncertainty about the future course of the pandemic, the green shoots of recovery are becoming increasingly visible across a wide range of sectors and activities. If policymaking continues to proceed as it has, and millions of working-age Indians get vaccinated at the earliest, a broad-based revival could be successfully engineered in many parts of the country. Our economy is clearly on the comeback trail.
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