Indian government consumption will continue to support current economic demand while private consumption will likely lead the recovery when it takes hold after the COVID19 outbreak eases, the Reserve Bank of India (RBI) said in its annual report on Tuesday.
- Reuters
- Last Updated: August 25, 2020, 11:49 AM IST
“The upticks that became visible in May and June after the lockdown was eased in several parts of the country, appear to have lost strength in July and August, mainly due to reimposition or stricter imposition of lockdowns, suggesting that contraction in economic activity will likely prolong into Q2,” the RBI said.
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