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Rating agency Standard & Poor's (S&P) on Wednesday said the second Covid-19 wave, which has engulfed India, brings uncertainty and a drawn-out outbreak will impede India's economic recovery.
This may need a revision of the base assumption of 11 per cent growth over fiscal 2021-2022, particularly if the government is forced to reimpose broad containment measures, according to S&P.
It said the country is already facing a permanent loss of output compared to its pre-pandemic days, suggesting a long-term production deficit equivalent to about 10 per cent of gross domestic product (GDP).
In addition to the substantial
This may need a revision of the base assumption of 11 per cent growth over fiscal 2021-2022, particularly if the government is forced to reimpose broad containment measures, according to S&P.
It said the country is already facing a permanent loss of output compared to its pre-pandemic days, suggesting a long-term production deficit equivalent to about 10 per cent of gross domestic product (GDP).
In addition to the substantial
