Indian economy is recovering from the Covid-19 crisis: World Bank

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Indian economy is recovering from the Covid-19 crisis: World Bank

(Lalit K Jha)

Washington, Oct 13 (PTI) World Bank President David Malpass said on Wednesday that the Indian economy, which has been hit by the Kovid-19 pandemic, is now in a state of recovery from the crisis and the World Bank welcomes it.

Malpass also said that India is facing great challenges of integrating more people into the organized sector economy and increasing the income of the people. India has made some progress in this direction but it is not enough.

Malpas told reporters here, “Indians have suffered a lot due to the wave of Kovid and it is unfortunate. They have tried to tackle this with huge production of vaccines and progress has been made in the vaccination effort. But we have to find out the impact it has had on the Indian economy and the unorganized sector in particular.”

Last week, the World Bank had projected the Indian economy to grow at 8.3 per cent this year.

In response to a question, Malpas said, “The Indian economy is recovering, and we welcome it. It has overcome the latest wave of Kovid. It’s a good thing. But India, like other countries, is now being affected by supply chain disruptions and rising inflation in the world.

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