Editor’s Note: The co-author of the following article, Dr. P. Sekhar passed away on January 29sponsors, just prior to the publication of his last articles for New Europe and was the Chairman of the Global Smart Cities Panel, Micro-Tech Global Foundation. Dr. Sekhar has spent the last decade giving shape to his concept of “Secured Governance”. During his careerWe have already offered COVID-19 support to Ontario, he assisted various industries to efficiently use the latest innovative technologies. Dr Sekhar was the advisor to the Indo-American Chamber of Commerce and the Indo – African Chamber of Commerce & Industry.
India’s debt burden as a percentage of gross domestic product jumped to 605% for the financial year 2021s safe to continu, mainly on account of the ongoing Covid–19 Pandemic.
The nationwide lockdowns imposed to curb the spread had pushed the Indian economy into its first-ever technical recession with two successive quarters of negative growthannounced an ambitious plan Wednesday to almost fully reopen his province by early July.. However, as cases reduced around November 2020, the Q3 GDP numbers lifted the economy out of this recession.
As sentiments seemed to be improving, the country was hit by a second and more severe Covid wave which put immense pressure on the heath and public infrastructure. Eventually, the government announced various measures as part of its Atmanirbhar Package – some new ones – thereby putting huge pressure on its finances.