The second wave of the Covid-19 pandemic—significantly more virulent than the first wave—has completely disrupted the economic recovery process after the first wave. India’s growth prospects in 2021-22 will depend on a host of factors which will determine how quickly India recovers from the impact of the second wave of the pandemic.
Where will the Indian economy go from here? What should be the policy response to this massive shock that has entered the second year, to help restore the recovery process? How should macroeconomic policy navigate its way between the conflicting policy goals of stimulating economic recovery and containing inflation, which has started rising now?
On Friday, June 25, the NCAER macroeconomic team addressed these questions while presenting NCAER’s Quarterly Review of the Economy for 2021-22:Q1. The QRE’s principal authors, NCAER Distinguished Fellow Sudipto Mundle, Senior Fellow Bornali Bhandari, and Assistant Professor, NIPFP, Rudrani Bhattacharya, presented the report. Distinguished guest speakers, Indira Rajaraman and Rakesh Mohan spoke at the webinar . Indira Rajaraman is a former Member of the 13th Finance Commission. Rakesh Mohan is President and Distinguished Fellow at the Centre for Social & Economic Progress (CSEP). The discussion was moderated by NCAER Senior Adviser, Research Programmes, Shashanka Bhide . NCAER Officiating Director General, Anil Sharma gave the welcome remarks.