Returning to positive growth

15 NOV,2020 | MEDC


 

The RBI has expressed optimism that the green shoots of growth could survive and take roots. However, it added that sustained inflation, the risk of future waves of the virus, and stress in the household and corporate sectors of the economy could play spoilsport. All of this is justified. Relaxations in the stringent lockdowns are ensuring that economic activity is gradually getting back on track, and the government is also proactively aiding the revival process by proactively providing the economya fresh set of stimulus measures for key stressed sectors such as hospitality, MSMEs, retail, and real estate, all of which have been hard hit by the prolonged lockdown. As yields haven’t yet risen, the government is in a comfortable position to borrow from the market. With reforms already introduced and with the current account in surplus, India has the fiscal space to launch more stimulus packages. The recovery processwill have somehiccups and false starts, but the economy is gradually learning to live and cope with Covid.

*Photo Credit: Google

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