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Economic recovery on rough patch, second Covid-19 wave may dampen prospects

While the International Monetary Fund has maintained ambitious growth estimates for FY22, the Reserve Bank of India has kept its forecast unchanged owing to a coordinated fiscal and monetary response.  The second Covid-19 wave is likely to put India’s economic recovery off track. Gaps in recovery have been surfacing after the resurgence in new cases, but the moderation in the pick-up seems to have begun well before the second wave.  Indicators began worsening in January, and the resurgence of the epidemic started in February. Come April, the disease began spreading .....

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