New Delhi: The second coronavirus wave might hit India’s economic recovery, according to the global rating agency Moody’s.
It said curbs and lockdowns again have dampened the market and consumer sentiment that do not seem to augur well with the market scenario. The rating agency added that “India’s very low death count and relatively young population also help mitigate risks.
The rating agency, however, warned that shortages in vaccine could slow inoculation drive and will be dangerous for the country.
Earlier this month, the International Monetary Fund (IMF) had raised its growth forecast for the Indian economy to 12.5 per cent from 11.5 per cent estimated in January. However, it mentioned that the forecast faces downside risks due to the second wave of Covid-19 infections.
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