Second Wave Of Corona Does Not Have Bad Impact On Economy
Second wave of Corona does not have as bad an impact on the economy as last year, RBI can announce the last time like Moratorium: Fitch.
Fitch, the leading rating agency, expressed concern over the pace of the ongoing vaccination campaign for the prevention of Covid-19 in India.
The Fitch Retailing Agency has said that the government figures show that till May 05, 2021, only 9.4 percent of the population has been given the vaccine (at least one).
This slow pace clearly means that even if the current wave turns sluggish, India is not fully prepared for the future threat of Corona.
Fitch has spoken of the recovery of the Indian economy from the second wave of Kovid-19, but also believes that the losses that the economy suffered during the previous year will not happen this year.
Fitch has taken the vaccine till May 5. However, after this there has been a slight increase in the speed of vaccine delivery.
At that time, 15–16 lakh vaccines were being installed in the country every day, but for the last four-five days, this pace is stable between 20-22 lakhs.
Of course, this growth is also less than the need. The highest number of vaccine doses in India was given on 05 April 2021. After that the pace could not sustain due to the nationwide shortage of vaccine.
Experts believe that in order to provide vaccine to large population of the country in four-five months, more than 7 million people need to be vaccinated daily.
By doing this an armor can be prepared against the third wave of Covid escaping. The pace of the vaccine is directly related to the recovery of the economy.
The Fitch Retiring Agency says that this time the second wave is not seeing as much of an impact on the Indian economy as it did from the epidemic of the previous year.
The recent steps taken by RBI will also have positive impact. However, the speed at which the situation was getting better will not happen now.
The situation will be worse in May, 2021 as compared to April, 2021. Fitch also hopes that the Moratorium can be announced again by the RBI as it did last year.
Despite this, the second wave may have a greater impact on the life of the common man, according to the rating agency. One reason behind this is the increasing expenditure on the health sector.
At the end of all these comments, Fitch has also said that the pace of recovery in the Indian economy may be slow, but the Indian economy cannot derail under these circumstances.
