Despite the third wave of Corona, India's economy has strengthened: US Treasury
In its semi-annual report, the Treasury said that the second wave in India put heavy pressure on development until mid-2021, delaying the economic recovery, but is now back on track.
The corona pandemic shook the entire world economy. For now, the economy is improving once again. The Indian economy has also made a rapid comeback after the third wave of Covid-19. The US Treasury Department has said this in a report submitted to Congress.
The report said that the government continued to provide financial support to the economy against the pandemic in 2021. Referring to the RBI's efforts, the Treasury said that the Reserve Bank of India kept its key policy rates unchanged at 4 per cent with effect from May 2020. Also supported in promoting development.
The US Treasury on Friday praised India's immunization efforts, saying economic activity has improved in the second half of the last fiscal year, with accelerating vaccination rollouts. By the end of 2021, about 44 percent of India's population had been fully vaccinated. India encountered the Omicron variant of Covid-19 in early 2022, but the number of deaths remained low.