Third time lucky?: On economy and the third COVID-19 wave

News 06.01.2022

India’s post-COVID economic recovery remains delicately poised at the turn of the new year — the third successive year under the shadow of the pandemic. With the Union Budget for 2022-23 less than four weeks away, the latest set of numbers capturing different aspects of the economy present a mixed picture with persistent pressure points. COVID-19 restrictions are already denting India’s services exporters’ order books, even as merchandise exports have hit a record high in December. Worryingly though, imports grew even faster last month than exports, keeping the merchandise trade deficit at an elevated $22 billion, just a tad less than the record $22.9 billion in November. (Read More)

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