V - ? Is V Shaped Recovery Possible?
Even as economists and expert agencies predict a gloomy picture ahead in this fiscal, the finance minister sees green shoots in the Indian economy. The government is optimistic about a V-shaped recovery. This essentially means the worst in the economy has gone by, and it will bounce back. But, the pent up demand due to lockdown may have an impact on the recovery. But will it resuscitate the economy?
The GDP contracted by 24 percent in the first quarter of this fiscal. Several other estimates call it a conservative assessment. The former chief statistician Pranab Sen estimates the GDP fall to be around 32 percent. No estimate, either official or unofficial, hopes for positive growth in the economy in 2020-21.
Goldman Sachs estimates the contraction in the economy at the level of around 15 percent in 2021. Thus, there may be a revival in specific sectors in the post lockdown period. But, this would not be sufficient to resurrect the growth momentum. Besides, the pandemic is still not showing signs of retreat. India is yet to reach its peak in daily new cases.
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V - ? Is V Shaped Recovery Possible? Even as economists and expert agencies predict a gloomy picture ahead in this fiscal, the finance minister sees green shoots in the Indian economy. The government is optimistic about a V-shaped recovery. This essentially means the worst in the economy has gone by, and it will bounce back. But, the pent up demand due to lockdown may have an impact on the recovery. But will it resuscitate the economy? The GDP contracted by 24 percent in the first quarter of this fiscal. Several other estimates call it a conservative assessment. The former chief statistician Pranab Sen estimates the GDP fall to be around 32 percent. No estimate, either official or unofficial, hopes for positive growth in the economy in 2020-21. Goldman Sachs estimates the contraction in the economy at the level of around 15 percent in 2021. Thus, there may be a revival in specific sectors in the post lockdown period. But, this would not be sufficient to resurrect the growth momentum. Besides, the pandemic is still not showing signs of retreat. India is yet to reach its peak in daily new cases. https://www.gulte.com/political-news/24750/prof-k-nageshwar-is-v-shaped-recovery-possible