Economic recovery has gained momentum after the lifting of localised lockdowns imposed in the aftermath of the second wave, but is ‘incomplete,’ according to a ICRA report.
The Indian economy will grow in double digits for the April-June period on the low base of 2020-21 but will still be short of the levels observed in the first quarter of FY20, it said.
“The real GDP in Q1FY22 will trail the Q1FY20 level, while recording a double-digit y-o-y expansion,” it said. The nationwide lockdown had resulted in a 23.7% GDP contraction in the June quarter of FY20.
