Publication: India Development Update, July 2020
Date
2020-07
ISSN
Published
2020-07
Author(s)
World Bank
Abstract
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.
Citation
“World Bank. 2020. India Development Update, July 2020; India Development Update, July 2020. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/34367 License: CC BY 3.0 IGO.”