"World economy is not coming back to 2019 levels until 2022, and in some countries not until 2023. So you're seeing these partialrebounds... You can have faster recovery that doesn't necessarily (depend) exclusively on vaccines, you could have better treatments."
India can offer more direct support to counter the impact of pandemic with its benefit covering the urban poor and migrant workers but monetisation of the deficit is not advisable, International Monetary Fund (IMF) chief economist Gita Gopinath told ET in an interview. She’s also concerned about “overheating” in the financial markets and said lockdowns should be "smart”—more targeted, more localised. The IMF had forecast a 10.3 contraction.