The Indian economy rebounded strongly despite 3 Covid-19 waves, the US Treasury has said in a report to Congress. The acute second wave weighed heavily on growth through the middle of 2021, delaying economic recovery. The U.S. Treasury praised India's vaccine drive - economic activity rebounded in the second half of the year. After contracting 7% in 2020, the output returned to pre-pandemic levels by the second quarter of 2021. U.S. Treasury semiannual report - 44% Indians fully vaccinated by the end of 2021, full-year 2021 growth of 8%. In 2022, India faced an Omicron-driven outbreak, but the number of deaths & broader economic fallout been limited. The Indian Govt continued to provide fiscal support against the backdrop of the pandemic in 2021.
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