New Delhi: The effects of the corona epidemic will soon be over. The Indian economy will recover rapidly and will return to normal soon. Rating agencies have expressed confidence in the Indian economy. All the reports released today by rating agencies such as Barclays, Morgan Stanley, Moody’s and Ikra are nothing short of great news. The performance of the economy will be much better than the rate at which the economy was expected to be damaged by the corona, the agencies said. According to Barclays, the impact of the coronavirus epidemic in India is on the rise. It will return to normal soon. Barclays predicts that India will achieve a growth rate of 7.5% in 2021-22. Organizations like Hero Motocorp and Titan have done very well during the festive season. “It’s a good sign for the economy,” Barclays said. However, it is projected to see a 7.6% decline in economic growth in the current financial year (2020-21). Morgan Stanley, one of the world’s leading financial institutions, said there were signs of a strong Indian economy. India is expected to achieve high growth by April next year. Similarly, the rating agency Ikra estimates that India’s growth will slow by 4.5% in the second quarter of the current fiscal year (July-September 2020). In the first quarter (April-June), India’s growth was the most affected by the Karona epidemic, with India’s growth slowing by 23.6 per cent. But the situation appears to have improved dramatically in the second quarter. The economic downturn has largely stalled due to rising government spending, Ikram said. Moody’s, one of the country’s leading rating agencies, estimates that India’s growth will slow by 10.4 percent in 2020-21. Moody’s has changed its preconceived notions. He lauded the package announced by the central government and said that growth would be lower than expected. Earlier, the agency estimated that India’s growth would slow by 11.5 per cent. In the third package of Prime Minister Narendra Modi’s government, Moody’s is happy with the emphasis on manufacturing, infrastructure, employment opportunities, improving the supply of loans and areas under pressure.
