Indian Economy May Take 12 Years To Overcome Covid Losses: RBI
NDTV
The Indian economy is likely to take over 12 years to overcome the COVID-19 losses, according to a report released by the Reserve Bank of India
The Indian economy is likely to take over 12 years to overcome the COVID-19 losses, according to a report released by the Reserve Bank of India (RBI) on Friday.
In its report on 'currency and finance for the year 2021-22', the RBI said, the pandemic is a watershed moment and the ongoing structural changes catalysed by the pandemic can potentially alter the growth trajectory in the medium-term.
"Sustained thrust on capital expenditure by the government, push to digitalisation and growing opportunities for new investment in areas like e-commerce, start-ups, renewables and supply chain logistics could in turn, contribute to step up the trend growth while closing the formal-informal gap in the economy," the report noted.
The RBI further noted in the report, the pre-COVID trend growth rate works out to 6.6 per cent (CAGR for 2012-13 to 2019-20) and excluding the slowdown years it works out to 7.1 per cent (CAGR for 2012-13 to 2016-17).
