Secondly, when you look at the rate of growth, at the start of the lockdown, active cases were doubling every three and a half days. So, the growth rate of active cases has clearly slowed down. Many analysts are saying that this pandemic may not only impact India’s short-term growth but also potential growth in the medium to long term. Commentators must remember that for 12 quarters—which is three years in 2000, 2001, 2002 —we had recorded growth rate of 3.8%, 4.8% and 3.8%. If covid-19 had not struck in March, given the way the indicators were looking, we would have certainly had a much higher growth rate than the 3.1% (in March quarter of FY20) and in fact would have been higher than the Q3 growth rate (4.1%) as well.

Source: Mint September 15, 2020 03:00 UTC