India will bounce back on growth path: Economist

India’s macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic.

Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months.“The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors,” he said. Chakraborty noted COVID-19 vaccination has been going on at a fast rate in India.