Asia Pacific Shaun Roache India city Mumbai covid-19 infection Waves Asia Pacific Shaun Roache India city Mumbai

India's recovery to be hit by COVID-19 surge; fiscal metrics to remain weak-S&P

MUMBAI : An ongoing second wave of COVID-19 infections in India could hurt its near-term economic recovery and possibly diminish growth for the full year, S&P Global Ratings said on Tuesday."India's COVID wave will inevitably hit the recovery and could push growth below 10%," said Shaun Roache, chief economist, Asia Pacific at S&P."The longer it takes to regain control, the greater the permanent damage, especially as policy space is limited."With 3.45 million active cases, India recorded 357,229 new infections over the last 24 hours, while deaths rose 3,449 for a toll of 222,408, health ministry data showed.

Experts say actual numbers could be five to 10 times higher.S&P currently has a "BBB-" rating on India with a stable outlook, the.

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