V-shaped economic recovery remains intact
After a growth rate of 20 per cent plus in April-June quarter (Q1), a Finance Ministry report on Thursday expressed optimism that the economy may see much better recovery during the remaining three quarters of the current fiscal.
“A broad-based rebound in several leading macroeconomic indicators in July and August offer bright prospects for India’s continued economic recovery. With the government and RBI’s unflinching commitment to put the economy back on track, India is poised for an even faster recovery in the next three quarters of FY22,” the monthly economic report by the economic affairs department said. Further, it mentioned that rapidly increasing vaccination coverage and richer experience with pandemic management provide confidence that the recovery can be continued even in the event of a third wave.
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