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Date(s) - 16/04/2021
11:30 am - 1:30 pm

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Rebooting the Indian Economy: Opportunities & Pitfalls

Dr. V. Anantha-Nageswaran

Going into the pandemic in 2020, the Indian economy had already experienced a growth slowdown over the previous three years. The pandemic created an economic contraction for the year ending March 2021. But, the pandemic galvanised structural reforms and the government marshalled its fiscal resources effectively to keep the economic growth damage to manageable proportions. India’s growth prospects appear bright. Not just for 2021-22 but in the years ahead as well. The size of the Indian economy began to converge with that of other advanced economies in the first decade of the new millennium. The process slowed in the second decade because of the bad debts in the banking system. India has now put that phase behind it. With smart, sensible and prudent capital formation, the Indian economy is expected to perform well this decade, resuming the process of convergence with developed nations. The second wave of pandemic should not be an obstacle. The Indian economic glass is more than half-full.