Activity Hit“Localized containment measures will act as a drag on growth," said Teresa John, an analyst at Nirmal Bang Equities Pvt.
in Mumbai, given that 10 Indian states that account for about 80% of the country’s Covid-19 cases contribute nearly 65% of the national output.
Still, John left her “conservative" growth estimate unchanged at 7% for the current fiscal year.The reluctance by economists to revisit growth forecasts just yet possibly stems from expectations for the crisis to blow over soon.
Fueling that confidence is a vaccination drive that’s covered more than 100 million people of the nation’s over 1.3 billion total, besides the promise of continued support from fiscal and monetary policy makers.“While the rapidity with which.