India’s robust V-shaped recovery from the aftermath of the brutal second wave of the COVID-19 pandemic is reflected through the provisional GDP estimates for the April-June (Q1) quarter of FY 2021-22. This is also evidenced by the sharp growth in the agriculture, manufacturing & construction sectors, the gradual revival of the services sector after the relaxation of lockdown restrictions, and the sharp rise in the country’s
services PMI (Purchasing Managers Index) at an 18-month high of 56.7. Vaccination coverage is expanding at a rapid pace , with around 60 percent of India’s adult population being vaccinated with at least first dose, as on September 8, 2021. The current recovery of the economy is broad based and fast, in terms of both supply and demand, indicative of the country’s strong macroeconomic fundamentals.