India Development Update, July 2020
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-CO...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/342001596823446299/India-Development-Update http://hdl.handle.net/10986/34367 |
| 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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