Published on: October 11, 2021

SOUTH ASIA ECONOMIC FOCUS REPORT ON INDIA

SOUTH ASIA ECONOMIC FOCUS REPORT ON INDIA

Silao By : World Bank

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  • The projected growth (8.3%) is supported by an increase in public investment to bolster domestic demand and schemes like the Production Linked Incentive (PIL) to boost manufacturing.
  • Gross Domestic Product (GDP) increased by 20.1% in the first quarter (April-June quarter) of financial year 2021-22 in the backdrop of “a significant base effect, limited damage to domestic demand and strong export growth”.
  • In the first quarter of financial year 2020-21, GDP contracted by 24.4% because of nationwide coronavirus lockdown.
  • Disruption in India’s economy during the second wave of the pandemic was limited, compared to the first.
  • Suggestions:
    • Rethink policies about medium term growth
    • Build social protection and adopt greener policies, because the next shock might be from the environment.
    • Integrate the informal sector and women into the economy