Topic: Indian Economy
5. Do you agree that the Indian economy has recently experienced V- shapes recovery? Give reasons in support of your answer. (250 words)
Difficulty level: Moderate
Reference: Indian Express
Why the question:
The question was asked just a day ago in UPSC Mains GS3.
Key Demand of the question:
Highlight the reasons for the argument that India has recovered from the economic slowdown.
Structure of the answer:
Introduction:
Begin by defining what is V-shaped recovery
Body:
Give data and draw a graph to show that India has had a V-shaped recovery after the Impact of COVID19 in the years 2020 and 2021.
However, also point out that the recovery may be temporary, in the absence of government policy support and rising consumer demand. Also, the impact of resurging COVID may dampen the growth further.
Suggest a few steps that India can take to mitigate the impact of COVID and ensure growth in the economy.
For further reference: Business Standard, IndiaToday
Conclusion:
Conclude with a relevant way forward
