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Indian economy is recovering from Covid-19 crisis: World Bank president Malpass

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WASHINGTON :  The Indian economy that was hit hard by the Covid-19 pandemic is now in recovery mode and the World Bank welcomes that, its president David Malpass said on Wednesday.

Malpass also said that India, which faces huge challenges of integrating more people into the formal sector economy and raising the earnings of the people, has made some progress but that's not enough. “Indians were hard hit by the waves of COVID and that's unfortunate.

They responded with the huge production of vaccines and there's been progress on the vaccination effort. But we have to recognise the hit that COVID caused on the Indian economy and especially on the informal sector of the Indian economy which is large," Malpass told reporters here.

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