54% Indians feel economy will completely recover from Covid pandemic by 2022, survey finds

According to survey by LocalCircles, 27% said Indian economy will recover significantly, while 2% said it will not see any recovery at all.

A vendor hands Indian rupee notes to a customer at a stall in Chauta Bazaar in Surat, Gujarat (representational image) | Photo: Karen Dias | Bloomberg

New Delhi: More than half of Indians are optimistic that India will have complete economic recovery from the impact of the Covid-19 pandemic by 2022, a survey has found. 

The survey conducted by community platform LocalCircles found that about 54 per cent Indians felt that India would undergo complete economic recovery by the time it completes 75 years of Independence in 2022.

The survey received over 62,000 responses from across 280 districts, of which 67 per cent respondents were men and 33 per cent were women. 

The survey found that while 37 per cent felt that the economy will recover completely and cross the pre-Covid GDP level, 17 per cent said even though the economy will completely recover, it will not surpass the pre-Covid GDP. 

Twenty seven per cent people said the Indian economy will recover significantly, but will not have a complete recovery, while 16 per cent said the recovery will be limited. Once 2 per cent said the economy will not undergo any recovery at all, according to the survey.

Growth and prosperity 

Prime Minister Narendra Modi in his inaugural address at the India Global Week 2020 in July said the world’s economic revival will be linked to the “growth of India” and that India is “ready to do whatever it can to further global good and prosperity”.

The LocalCircles survey found that 57 per cent felt that Indians will grow and prosper before the country completes 75 years of Independence.

While 19 per cent felt that there will be growth and prosperity for all Indians in the next two years, 38 per cent said there will be growth and prosperity for most people and 40 per cent said it will only be for a few.

Fall in social stability

In terms of social stability, the survey noted that only 26 per cent believed people from different castes and religions will live with each other in harmony and peace in the country in the next two years. This figure was 42 per cent and 43 per cent, respectively, in the LocalCircles surveys of 2019 and 2018.

According to the latest survey, 26 per cent said social stability will improve, while 43 per cent said it will remain the same and 28 per cent believed it will deteriorate.