Finance ministry says Omicron likely to be a ‘less severe’ risk
The Hindu
‘Recovery expected to strengthen in second half of 2021-22; fuel tax cuts to ease Inflation’
India’s economic recovery is expected to gain further strength in the second half of this year, following the 8.4% GDP growth recorded in Q2, the Finance Ministry said on Saturday, citing preliminary evidence that the Omicron variant of COVID-19 may be a ‘less severe’ risk.
Stressing that India is one of the few countries to record four consecutive quarters of growth amid COVID-19, the ministry said the country will catch up with pre-pandemic levels of economic activity for the full year of 2021-22.
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