India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

Volume/Issue: Volume 2021 Issue 230

Publication date: October 2021

ISBN: 9781513598925

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Topics covered in this book

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Finance , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , headline consumer price inflation , The Authorities , potential GDP , labour market functioning , monetary policy easing , privatization of government enterprise , COVID-19 , Government debt management , Global , Eastern Europe

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Summary

The ongoing COVID-19 pandemic has created a prolonged health crisis. Economic activity was slowing prior to the pandemic. Two COVID-19 waves have resulted in a deep and broad-based economic downturn with the potential for a longer lasting impact. The authorities have responded with fiscal policy, including scaled-up support to vulnerable groups, monetary policy easing and liquidity provision, and accommodative financial sector and regulatory policies. Despite the pandemic, the authorities have continued to implement structural reforms.