<p>India's economy will recover after the containment of the COVID-19 pandemic and the country will maintain its sound net external position, Niti Aayog vice-chairman Rajiv Kumar said on Thursday.</p>.<p>Kumar further said that India's strong democratic institutions promote policy stability and the ongoing economic reforms, if executed well, should keep the country's growth rate ahead of peers.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-delhi-reports-highest-single-day-spike-of-1877-new-cases-indias-tally-surges-to-290450-846670.html" target="_blank"><strong>Follow live updates on coronavirus here</strong></a></p>.<p>His comments have come amid Moody's downgrading the country's rating and S&P retaining it at the lowest investment grade.</p>.<p>S&P Global Ratings on Monday said Indian economy will shrink by 5 per cent in the current fiscal, as the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support.</p>.<p>Last week, Moody's Investors Service had said India's economy is expected to contract for the first time in more than four decades as economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity.</p>
<p>India's economy will recover after the containment of the COVID-19 pandemic and the country will maintain its sound net external position, Niti Aayog vice-chairman Rajiv Kumar said on Thursday.</p>.<p>Kumar further said that India's strong democratic institutions promote policy stability and the ongoing economic reforms, if executed well, should keep the country's growth rate ahead of peers.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-delhi-reports-highest-single-day-spike-of-1877-new-cases-indias-tally-surges-to-290450-846670.html" target="_blank"><strong>Follow live updates on coronavirus here</strong></a></p>.<p>His comments have come amid Moody's downgrading the country's rating and S&P retaining it at the lowest investment grade.</p>.<p>S&P Global Ratings on Monday said Indian economy will shrink by 5 per cent in the current fiscal, as the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support.</p>.<p>Last week, Moody's Investors Service had said India's economy is expected to contract for the first time in more than four decades as economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity.</p>