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India Development Update, July 2020
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Economic Updates and Modeling.
- World Bank e-Library.
- Economic Updates and Modeling
- Language:
- English
- Subjects (All):
- Consumption.
- Coronavirus.
- COVID-19.
- Disease Control and Prevention.
- Economic Growth.
- Financial Sector.
- Fiscal and Monetary Policy.
- Health, Nutrition and Population.
- Inequality.
- Inflation.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Poverty Reduction.
- Public Finance.
- Social Protections and Assistance.
- Social Protections and Labor.
- Trade Policy.
- Local Subjects:
- Consumption.
- Coronavirus.
- COVID-19.
- Disease Control and Prevention.
- Economic Growth.
- Financial Sector.
- Fiscal and Monetary Policy.
- Health, Nutrition and Population.
- Inequality.
- Inflation.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Poverty Reduction.
- Public Finance.
- Social Protections and Assistance.
- Social Protections and Labor.
- Trade Policy.
- Place of Publication:
- Washington, D.C. : The World Bank, 2020.
- System Details:
- data file
- Summary:
- The pandemic has afflicted India at a time when its economy had already been decelerating. Defying a long-term accelerating path, real GDP growth moderated from 7.0 percent in 2017-18 to 6.1 percent in 2018-19 and 4.2 percent in 2019-20. The pre-COVID-19 growth deceleration was perceived to be due to long-standing structural rigidities in key input markets; continuing balance sheet stress in the banking and corporate sector, which were compounded more recently by stress in the non-banking segment of the financial sector; increased risk aversion among banks and corporates; a decline in rural demand; and a subdued global economy.
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