Deep uncertainty over covid-19’s course means that projections get outdated quickly and, on current indications, we could even be staring at a contraction of output in 2020-21 On Sunday, the World Bank put out a forecast for India’s covid-hit economy in its South Asia Economic Focus report.
Our growth, the Bank reckons, could slump to 1.5-2.8% this fiscal year. This, however, could turn out to be an overestimate should the country undergo a prolonged lockdown.
Things look grim. Production has been severely disrupted, and a swift snap back to earlier form after the current curbs are lifted seems highly unlikely.
Deep uncertainty over covid-19’s course means that projections get outdated quickly and, on current indications, we could even be