India is estimated to lose output worth Rs 2 lakh crore in FY22 because of the second wave of Covid-19, according to the Reserve Bank of India.
The Indian economy continues to wrestle with the second wave of the pandemic, though cautious optimism is returning, the central bank said in its monthly bulletin.
Agriculture and contactless services are holding up, while industrial production and exports have surged amidst pandemic protocols, it said.
The economy has the resilience and the fundamentals to bounce back from the pandemic and unshackle itself from pre-existing cyclical and structural hindrances, it said.
The speed and scale of vaccination will shape the path of recovery, the RBI said.