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Economy on the path of a V-shaped recovery: Government
Why is it in news?
- As per the Finance Ministry, India’s economy is firmly on the path of a V-shaped recovery after the collapse in the first quarter.
- V shape
- The Ministry expects further improvement in the third quarter.
Details:
- V-shape indicates growth after contraction.
- Finance Ministry attributed the recovery to the unlocking process along with ‘astute’ stimulus measures.
- The prospects of a second wave of COVID-19 infections, however, remains the key downside risk to the economy.
- The Ministry urged people to follow COVID-appropriate behaviour and maintain safety protocols earnestly.