India's economy grew at 20.1% in Apr-June 2021, compared to the same period last year. How well is India's economy really doing? BOOM Explains.

Economist and Founder, QuantEco Research, Shubhada Rao says that the harder the fall is, the stronger the bounce looks. Since the same time last year saw a complete freeze of economic activity, the corresponding period with more localised lockdowns was expected to do better. If we map sequentially, economic activity contracted by close to 17%, meaning January-March quarter was significantly better than the April-June quarter, despite a raging second wave in India. Even then it was uneven because manufacturing in India grew but service sector lagged behind.

She also says that going forward we should look at better rates of recovery. we are seeing better pace at jobs growth, but some sectors may not see jobs being added as quickly as others.

Watch BOOM's Govindraj Ethiraj chat with Shubhada Rao on whether the Indian economy has really grown, where our economy is headed and if India is truly better off than the pre-covid period.