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Indian economy may take 12 years to recoup pandemic losses, estimates RBI

The perturbations from repeated waves of COVID-19 have come in the way of sustained recovery and the quarterly trends in GDP essentially followed the ebbs and flows of the pandemic

April 30, 2022 / 12:27 PM IST
The Indian economy may take more than a decade to recover to the pre-COVID levels

The Indian economy may take more than a decade to recover to the pre-COVID levels

The Indian economy may take more than a decade to overcome the losses emanating from the COVID-19 pandemic, said a report published by the Reserve Bank of India.

In an analysis of the impact of COVID-19 on the economy, the report has estimated the output losses during the pandemic period at around Rs 52 lakh crore.

The perturbations from repeated waves of COVID-19 have come in the way of sustained recovery and the quarterly trends in GDP essentially followed the ebbs and flows of the pandemic, said the chapter 'Scars of the Pandemic' in the Report on Currency and Finance (RCF) for the year 2021-22.

Following a sharp contraction in the first quarter of 2020-21, the economic momentum progressively picked up till it was hit by the second wave in April-June 2021-22.