Real GDP has strongly bounced back in the first quarter of the Financial Year (FY) 2021-22 with a growth rate of 20.1% as against the contraction of 24.4% witnessed in the Q1 of FY 2020-21. However, this number must not be confused with a strong recovery because of a low base effect. Economists said the base effect masked the impact of the second wave of the pandemic and the cost of Covid-19, calling for more fiscal and monetary support for the economy.
Is this data projecting to a V-shaped recovery?
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