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Budget 2021 | Why the World Bank doesn’t believe the Indian recovery will be V-shaped

The World Bank believes the pandemic has lowered potential growth — the output that can be sustained at full employment and capacity utilization — in the Indian economy by eroding growth in human capital and investment

January 07, 2021 / 04:05 PM IST
Budget 2021 | Why the World Bank doesn’t believe the Indian recovery will be V-shaped

(Image: News18 Kerala)

The World Bank’s flagship publication, ‘Global Economic Prospects’, published this month, doesn’t endorse the current narrative of a faster than expected recovery in the Indian economy. It says India’s GDP in 2020-21 will shrink by 9.6 percent, a good 2 percentage points more than the Reserve Bank of India’s estimate of a contraction of 7.5 percent this fiscal year. Moreover, it’s not too upbeat on growth prospects in 2021-22 either, pegging it at 5.4 percent. That would mean India’s real...

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