New Delhi: The Reserve Bank of India (RBI) has said that it will take at least 12 years for India to recover from the losses incurred by Kovid. India’s economic recovery is expected in 2034–35. The report was written by officials at the Reserve Bank’s Economic and Policy Research. Therefore, the report says, the comments are not those of the RBI.
The loss to Kovid was estimated at Rs 52 lakh crore. The first wave of Kovid caused the economy to slow down in the first quarter of 2020–21 but then improved. The report also points out that the second wave, the third wave and the war in Ukraine exacerbated the problem.
English Summary: RBI on recovery from financial crisis created due to covid
