India to grow by 10.2% in 2021
Updated Apr 28, 2021 04:55 am
- Oxford Economics, a global forecasting firm, has revised its projection for growth in GDP of Indian economy for 2021 downward from 11.8% to 10.2%. This was due to rising health burden in the country, loss in momentum of vaccination drive and lack of assurance from government’s strategy to curb the wave.
- The firm further commented that the economic impact from the second wave is likely to be less due to less stringency in restrictions, targeted lockdown approach and resiliency in consumer and business behaviour. It expects contraction in GDP in the second quarter of 2021.
local_offerTags: India growth 2021
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