Next few months to be critical for India due to Covid-19: Oxford Economics

The next few months will be critical for India as the renewed Covid-19 surge challenges the country's immature economic recovery, global forecasting firm Oxford Economics said on Friday.

It also said that while the impact so far appears milder and the economy more resilient, Indian policymakers have no room for complacency.

It further said that with state governments reluctant to reintroduce strict lockdowns, the economic impact will be much less severe than in the second quarter of last year.

"The next few months will be critical, as the renewed Covid-19 surge challenges India's immature recovery.

“While the impact so far appears milder and the economy more resilient, policymakers have no room for complacency,” Oxford Economics said.