India faces long, hard battle to recovery
The IMF predicts India’s GDP will shrink 10.3% in the year to March 2021 as Narendra Modi’s sudden lockdown paralysed activity
19 November 2020 - 10:52
Mumbai — India will be worst-affected among the world’s major economies even after the pandemic wanes, with output 12% below pre-virus levels through the middle of the decade, according to Oxford Economics.
Balance sheet stress that had been building before the coronavirus outbreak will probably worsen, Priyanka Kishore, head of economics for South Asia and Southeast Asia, wrote in the report. She projects potential growth for India at 4.5% over the next five years, lower than 6.5% before the virus...
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