Due to the second wave of corona, the country’s economy has suffered a loss of Rs 2 trillion in the current financial year. This loss has a negative impact on demand due to state-level lockdowns. This assessment of the loss comes from the Reserve Bank of India, which issued a detailed review of the far-reaching impact of the corona epidemic in its report released on Wednesday. The RBI said the corona vaccine was a major invention, but vaccination alone could not prevent the epidemic. We have to make a habit of living with Corona. In addition, governments need to invest heavily in health and logistics.
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The economy is still experiencing a loss of Rs 2 lakh crore, reducing the growth rate from 10.5 per cent to 9.5 per cent in the current financial year, the report said. This loss is mainly due to the impact of demand in rural and small towns. Moreover, the report suggests that inflation concerns are still at large in front of the central bank, but despite this, interest rates are not strictly enforced. However, the loss this year is lower than the national lockdown imposed last year. Positive information is constantly coming from the industrial production and export front. The country’s economy has the potential to return to normal quickly.
The possibility of a third wave remains intact.
However, the RBI believes there is a possibility of a third wave of corona and there should be no shortage of vigilance to protect against it. To prevent this, in addition to social distance, vaccination is also needed, but vaccination alone is not enough to prevent this. This report will warn you more about the far-reaching impact of the corona.