Indian economic recovery will be impressive because country could not continue to live in lockdown regime. Number of coronavirus positive cases crossed 5.2 million and vaccine is not yet available for public (only on trial basis). Till vaccine for coronavirus will be available for general public, huge amount of population will test positive for covid-19.
During last quarter economy was in the worst condition in decades (check graph below). Economic recovery will be in V-shape because people started spending money again. But there’s no confidence that new strict lockdown will not be imposed anywhere soon.
On graph clearly visible that Indian economy was growing fir last 10 years on average 6%. But in 2020 numbers are shocking. Almost all countries fell into recession. According to general definition recession declared when country’s Gross Domestic Product (GDP) shown negative economic growth. There significant drop in five major economic indicators: GDP, employment, income, manufacturing and retail sales.
Follow my blog for more interesting content.