New Delhi: According to a survey, three out of four Indians project India to be able to recover financially from the COVID-19 pandemic in the next one year before the country completes 75 years of independence.
LocalCircles conducted a survey during which citizens were asked how they see the economic recovery from the impact of COVID in the next one year.
In response, 33 per cent of citizens expect the economy to “recover completely and surpass the pre-COVID 2019-20 GDP level”, while another 11 per cent said it will be “completely fine”. but will not go beyond pre-COVID 2019-20 levels.
According to LocalCircle, 31 percent of citizens said the economy “will recover significantly but not fully”, while 15 percent said there will be “a limited recovery”. 3 percent of citizens said the economy “won’t recover at all” and 5 percent said it would “get worse”, while 2 percent had no opinion.
This question got 11,081 responses in the survey.
During the initial months of last year’s COVID-induced country-wide lockdown, the Indian economy was left untouched by a strict nationwide lockdown, resulting in a 23.9 per cent contraction in the economy during April-June 2020.
India’s GDP contracted at a slower pace in the September quarter, falling 7.5 per cent from a year ago, even after relaxations in sectors gradually restarting.
Amid several boosters by the government to revive the economy and easing of lockdown for all sectors as COVID-19 cases fell sharply, financial experts were quoted as saying that the economy is in a ‘V-shape’. The recovery was watching, LocalCircle reported.
read also: Grab the bull by its horns as the stock market shows it: FM Sitharaman to India Inc. told
Earlier this year, S&P Global Ratings projected India’s GDP growth at 11 per cent for the coming fiscal year.
.