The country’s economy will witness a recovery after the containment of Covid-19 pandemic, as well as the ongoing reforms directed at keeping India’s growth rate ahead of peers, PTI has reported Niti Aayog vice-chairman Rajiv Kumar as saying.
“India’s economy will recover following the containment of the Covid-19 pandemic. India’s strong democratic institutions promote policy stability. Ongoing economic reforms, if executed well, should keep the country’s growth rate ahead of peers,” he said.
Kumar’s observation has come on the heels of IMF’s projection that showed a sharp contraction of 4.5% for the country’s growth this year, citing the ongoing Covid-19 pandemic that has impeded all economic activities, but had also expected India to bounce back next year with a robust 6% growth rate. Also, many economists, brokerages and MNC agencies have said that India will witness a deep contraction in the face of the strict lockdown to control the spread Covid-19.