With a second wave of covid raging in India, our economic prospects this fiscal year have begun to look dimmer. On Tuesday, Moody’s Investors Services slashed its gross domestic product growth forecast for the country to 9.3% in 2021-22 from 13.7%. If these figures still seem high, recall that they represent the expansion of an economy that shrank nearly 8% in 2020-21. With a workforce both weakened and worried, a demand revival may prove particularly elusive. Share ViaSubscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint May 11, 2021 18:00 UTC