Indian Economy 2023: The needle on a dial measuring the so-called Animal Spirits stayed at six for a second month even as some indicators such as exports and tax collections showed signs of weakness
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V-shaped recovery unlikely as India’s economy faces tougher Covid test
V-shaped recovery unlikely as India’s economy faces tougher Covid test
India s economy is unlikely to witness a V-shaped recovery in the wake of an unprecedented second wave of Covid-19 and real GDP growth could turn out to be much lower than projected earlier. Here is all you need to know:
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UPDATED: April 19, 2021 15:06 IST
A rapid rise in Covid-19 cases threatens to derail India s economic recovery again. (Photo: PTI/Representational image)
India’s economic recovery has been cut short by an unprecedented Covid-19 wave that has forced many states to impose localised lockdowns. Countless businesses have been impacted as a result and experts say the situation will worsen if the virus is not contained soon.
India s November Industrial Output Sees 1.9% Contraction
Industrial production has been hit due to the COVID-19 pandemic since March.
A labourer welds an iron pillar at a building material factory in an industrial area in Uttar Pradesh. Photo: Reuters
New Delhi: India’s industrial production contracted by 1.9% in November, official data showed on Tuesday.
According to the Index of Industrial Production (IIP) data, manufacturing sector output shrank by 1.7% in November 2020.
Mining output also declined 7.3%, while power generation grew 3.5%.
The IIP had grown by 2.1% in November 2019.