V-shaped recovery unlikely as India’s economy faces tougher Covid test

India's economy is unlikely to witness a V-shaped recovery in the wake of an unprecedented second wave of Covid-19 and real GDP growth could turn out to be much lower than projected earlier. Here is all you need to know:

India’s economic recovery has been cut short by an unprecedented Covid-19 wave that has forced many states to impose localised lockdowns. Countless businesses have been impacted as a result and experts say the situation will worsen if the virus is not contained soon. In January, the government said India’s economy would see a ‘V-shaped’ recovery as economic activity resumed in full swing after the first wave. While India’s economy had recovered swiftly for the past few months, the second wave has spoiled the mood and has put the fragile economy to test again.