The second edition of the BRICS economic bulletin has projected a higher recovery for India than the other four nations, Brazil, Russia,  China and South Africa. The Bulletin was released by the Reserve Bank of India on Friday.

Countries other than China have started showing signs of recovery from the second half of 2020. The bulletin also showed that the ongoing vaccination programmes has provided a much brighter outlook for 2021.

A stable and sustainable fiscal position is key to implementing counter-cyclical policies during recession as was noted during times of great financial crisis and Covid-19.

The pace of economic growth was reported to be gradually picking up in India and Brazil while in Russia and South Africa are yet to retract to pre-pandemic levels. It was difficult to estimate the recovery as threat of Covid-19 still exists.