"indias-economy"

Subbarao said instead of borrowing in the market, the government could raise a part of its borrowing requirements by issuing Covid bonds to the public.

"India's recovery is being hampered by the largest outbreak of any country since the beginning of the pandemic," the World Bank said.

The BSE benchmark index on Monday closed at 51,937.44, a gain of 514.56 points or 1 per cent.

The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20.

The economist said the current localized reversal of unlocks has successfully bent the curve.

Almost all agencies, global research institutions and bankers concluded that the worst for the India’s economy was over and the country would register a double digit growth, he said.

The World Economic Situation and Prospects 2021 said that by mid-2020, unemployment rates had escalated to a record high 23 per cent.

Noting that the COVID-19 crisis has wreaked havoc on labour markets in the developing world, the World Economic Situation and Prospects 2021, said that by mid-2020, unemployment rates had escalated to a record high 23 per cent in India.

The bulletin cited the pandemic-imposed retrenchment of Q1FY21 turned out to be much shallower in Q2 and the economy is reflating at a pace that beats most predictions.

Addressing the inaugural session of CII's Partnership Summit 2020, through virtual means, Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Goyal invited foreign investors to be a part of India's growth story.