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It will take a significant amount of time for the Indian economy to recover from the COVID-19 economic impact.

The Indian economy may take at least a year or two to recover from impact of the Covid-19 crisis.

The Indian economy may take at least a year or two to recover from impact of the Covid-19 crisis.Many institutions across the world have predicted a worse off economic crisis due to the Covid-19 pandemic than the 2009 global economic and financial crisis. The Indian economy was on the path of recovery until January 2020. But the growth trajectory for the future reflected a sharp decline due to the slow recovery in domestic demand and stress in the nonbank financial sector and a decline in credit growth.

Meanwhile, the lockdown measures imposed due to Covid-19 have caused the growth outlook to further degrade and remain subdued for a longer period. Though there is an expectation of returning to normalcy, downside risks to domestic growth remain significant, as there is still heightened uncertainty around. The overall GDP growth for 2020-21 is estimated to be negative, and the economic impact may last for a minimum of 12 to 24 months based on the severity of the pandemic. However, the Indian economy may witness some green shoots in between but is likely to remain subdued overall.

The COVID-19 pandemic has given rise to a lot of potentially dangerous misinformation. For reliable advice on COVID-19 including symptoms, prevention and available treatment, please refer to the World Health Organisation or your national healthcare authority.

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