President of World Bank David Malpass said on Wednesday that the Indian economy got hit hard by the Covid-19 pandemic and is now in recovery mode.
He again added by saying, India faces enormous challenges of integrating more people into the formal economy and increasing people’s incomes, which is not enough. India, like other countries, is hit hard now by the supply chain disturbance and by the inflation that’s been growing in the world,” Malpass added in response to a question.
India made a huge production of vaccines and the progress in the vaccination is still going on. But people should not forget the hit that Covid caused on the Indian economy and especially on the largest informal sector. The World Bank predicts last week that the Indian economy will grow at 8.3 percent this year.
Malpass again added that he went to India in late 2019 and saw the changes that were quite positive in terms of the banking system, the financial system, the civil service system, and that India was looking for ways to improve the clean water situation which is one of the crucial things that must change in India for child nutrition and also for providing and improving nutrition.
Lastly, he stated that clean water is one of the most important starting points for living on the planet and this is a huge, giant face up for the world’s biggest democracy.