Indian financial system driving in opposition to COVID wave: finance ministry


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India’s finance ministry stated in its month-to-month financial evaluate for December that the nation’s financial system is ‘driving in opposition to’ the COVID-19 wave as mirrored within the declining variety of new circumstances in addition to a V-shaped financial restoration, however the unfold of the brand new mutation of the virus, first reported in the UK, poses a key draw back danger.

The advance within the excessive frequency indicators raises optimism that financial efficiency will likely be a lot better within the second half of the present fiscal.

“The efficient administration of COVID-19 unfold regardless of the festive season and onset of winter season, mixed with sustained enchancment in excessive frequency indicators and V-shaped restoration together with easing of lockdown restrictions distinguish Indian financial system as one driving in opposition to the COVID wave,” the report stated.

“The administration of the COVID-19 unfold has been efficient regardless of the festive season and onset of winter season. The draw back danger, nevertheless, stays the unfold of the UK variant and fatigue from social distancing tips,” it added.

The financial system reported its sharpest financial contraction of 23.9 per cent within the April-June quarter earlier than bettering marginally to report a contraction of seven.5 per cent within the July-September quarter.

Fibre2Fashion Information Desk (DS)


India’s finance ministry stated in its month-to-month financial evaluate for December that the nation’s financial system is ‘driving in opposition to’ the COVID-19 wave as mirrored within the declining variety of new circumstances in addition to a V-shaped financial restoration, however the unfold of the brand new mutation of the virus, first reported in the UK, poses a key draw back danger.





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