India's Economy Recovered Despite 3 Covid Waves: The Ultimate Things List
India's Economy Has Recovered Despite Three Major Outbreaks Of Covid-19, The US Treasury Said In A Statement To Congress.
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India’s Acute Second Wave Weighed Heavily On Growth Until Mid-2021, Delaying Economic Recovery, The Treasury Says In A Semester Report.
"However, Economic Activity Recovered Strongly In The Second Half Of The Year As The Vaccination Industry In India Accelerates," The Treasury Said On Friday, Hailing India's Vaccination Efforts.
It said that by the end of 2021, 44 per cent of India’s population would be fully vaccinated.
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After falling to 7% in 2020, production returned to pre-pandemic levels in the second quarter of 2021, with full-year 2021 growth of 8%, he said. Starting in early 2022, India faced a third major outbreak driven by the Omicron variant, but the death toll and broader economic fallout were minimal, he said. The Indian government continued to provide financial assistance in 2021 over the wave, he said. Officials forecast the overall fiscal deficit to reach 6.9 percent of GDP by fiscal year 2022, surpassing pre-pandemic deficits, he said.
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