India’s Economy Comes Out From the Corona Recession

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India’s economy has shown growth in the fourth quarter of 2020, pushing the country out of a recession triggered by the corona crisis.

 

In the last three months of last year, Asia’s third-largest economy grew by 0.4 percent year-on-year, helped by the relaxation of restrictive measures against the virus outbreak.

In the previous two quarters, there was still talk of contraction and thus a so-called technical recession. That was the first recession since India gained independence in 1947.

The Indian central bank cut interest rates several times to stimulate the economy, and the government came up with support packages.

The country with more than 1.3 billion inhabitants is one of the countries most affected by the coronavirus, with 11.1 million corona infections and approximately 157,000 deaths from the virus.

A large-scale vaccination campaign has now started.

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