India set for ‘W-shaped’ economic recovery with potential $1t loss

India set for ‘W-shaped’ economic recovery with potential $1t loss

India is headed towards a W-shaped economic recovery with a potential economic contraction of 10.8 per cent while facing a potential loss of $1.0 trillion in fiscal 2021, global management consultancy Arthur D. Little said on Wednesday.. "The government recovery programme needs to provide a comprehensive safety net for vulnerable sections and support micro, small and medium enterprises.. Clear policy announcements, comprehensive safety nets and decentralized systems of governance will be essential to not only flatten the curve, but also reverse the economic trajectory," ADL said in a report that aims to provide a realistic picture of the economic impact Covid-19 has had on India.. The report was released in the wake of the massive ?20 trillion stimulus package unveiled by the Indian government to revitalise the economy hit hard by the pandemic lockdown.. Barnik Chitran Maitra, lead author of the report and managing partner of ADL India and South Asia, said the third largest Asian economy would have a W-shaped economic recovery with a potential economic contraction of 10.8 per cent with the potential loss of $1 trillion in fiscal 2021.. "The report seeks to inform policy makers about the range of measures they can take to avert this