NCAER, the National Council of Applied Economic Research, presented the 2020-21 Mid-Year Review of the Indian Economy on December 21, 2020, in cooperation with the India International Centre (IIC), New Delhi. The NCAER Mid-Year Review (MYR) carries on the tradition started by Dr Malcolm Adisheshiah at the IIC in 1976. The NCAER macro team led by NCAER Distinguished Fellow Sudipto Mundle presented its latest analysis of the economic situation and its growth forecasts to an audience of policymakers, analysts, and others. More than 270 participants registered for the webinar which was also live streamed.
Dr Adiseshiah, one of India’s most distinguished economists and educationists, a Life Trustee of IIC, recipient of the Padma Bhushan, and founder of the Madras Institute of Development Studies, was a key architect of UNESCO’s work on education and technical assistance.
NCAER’s MYR 2020 comes at a critical juncture. The Coronavirus pandemic led to an unprecedented contraction of the economy by nearly 24% in Q1 of 2020-21. Though the pandemic is still continuing, the progressive unlocking of the economy supported by stimulus policies has led to a strong recovery during Q2 2020-21. However, this recovery may be flattening. The challenge now is to accelerate and sustain the pace of this recovery over the medium to long term. This will require wide ranging structural reforms in addition to conventional macro-economic stimulation policies.
In addition to Sudipto Mundle, the NCAER MYR 2020 featured NCAER Senior Fellow Bornali Bhandari, and NIPFP Assistant Professor Rudrani Bhattarcharya. Aditi Nayar, Vice President and Principal Economist, ICRA and Tirthankar Patnaik, Chief Economist at National Stock Exchange of India Limited provided expert comments and a market perspective to round out the discussion. NCAER Director General Shekhar Shah moderated the discussion.
The Review and presentation is available on this webpage. The Video recording is available here.