Covid-19: Economists see deeper impact of second wave than go nment
NEW DELHI: Within minutes of release of fourth quarter GDP numbers, chief economic adviser Krishnamurthy Subrnian made a detailed presentation on the economic situation, reminiscent of the pre-budget Economic Survey.
His message was simple: The impact of the second wave, which has caused significant devastation in terms of lives and livelihood, will not be large. He pointed to several indicators and the global experience to argue his case.
RBI too seems to be on the same page, which also expects a muted impact of the second wave, that may be confined to the April-June quarter with a possibility of a spill over to July.
印度储备银行似乎也持同样的观点，也预计第二波疫情造成的影响会较小，可能仅限于4 - 6月季度，有可能持续到7月。
But economists in the private sector as well as international agencies are less upbeat, with state-run SBI slashing its growth projection from 11% before the second wave hit India to 7.9% now — a three percentage point cut (or 28% lower than original projection). Similarly, Paris-based OECD has lowered its estimate from 12.6% to 9.9%.
“India is projected to be the fastest-growing G20 economy in 2021 — but also the one, which is the furthest away from its pre-crisis GDP trend. Pent-up demand for consumer durables and exports of manufacturing goods and services will act favourably, but other components will be far less supportive,” the think tank said in its overall assessment.
We have been living under a curse ever since Feku came to power in 2014. Remarkably, the recent record-breaking "achievements" are reached by Feku in 7 years what Congress and NDA-1 couldn't in 67 years.
Go Corona Go
Krishnamurthy and SBI will parrot whatever the govt. dictates them too. International rating agencies will give a better picture and will present their figures without any Bias.
In 7 years, BJP under RSS and Modi did what all other previous go nments couldn't achieve in 70 years.
The reality is, India is on verge of col pse, only riches and po itician with their families are doing well.
Ghani Khan PAK
India is facing worst situation when it comes to daily wage earners. During lock down they have no income to feed their families.
This worthless buffoon is still barking about how great the Indian economy will be. Truth is, none of his previous predictions have come true, not by a mile. This moron should’ve been fired ages ago, except the rest of this clownish go nment is probably worse. The last 7 years have been a tragedy for India. Indian economy is in critical state, hurtling towards the precipice...
this go nment never gives real picture of economy every thing is manuplated by their ministry. biggest liers ever
The greatest tragedy to happen to india is this uneducated person pretending to be the new indian mahatma gandhi. So sad . So sad to see that indian bhakta are so blind and follow him like pied piper
India has economists… i thiught country was left ith jokers since smart people go to US/Canada every month
Who cares about economists... If Corona Vijeta Chakrawarty Modiji and his govt are saying there is less impact, then it means there is less impact... what if on ground level businesses are ruined and people are unemployed...
India is the only worst covid country among the poor countries
Nothing is bad under godi govt ....inflation are high, petrol price sky rocketing , job loss in both formal and informal sector .....but cha cha team saying all is good ....don't believe their lies
A report says 90% of population become poor. Even Kenya started giving food aid to India.
All said and done, the only way is to step up vaccination.
Modi & Co does not have the habit of telling truth. The figures which they present are purely imaginary .
Even before Corona , unemployment problem in this country is raging and price have sky rocketed.
It will take minimum 3 years to reach the GDP output of 2018-19.
everyone knows that economy is badly hit...
Modiji wont stop till every indian (except adanis and ambanis) becomes destitute beggar.His govt works for ultrarich.For avg indians,modiji sells hinduism and nationalism.
India's economy saved bcz of NaMo. Else it would have been in much bad shape.
Here experts If our economy bounces back as it will then be ready to committ Suicide with your other haters and experts.