Due to the second wave of Corona, the country’s economy has suffered a loss of two lakh crore rupees during the current financial year. This loss is due to the adverse effect on demand due to the lockdown at the state level. This assessment of the loss is from the Reserve Bank of India, which has done a detailed review of the far-reaching impact of the Corona epidemic in its report released on Wednesday on the country’s economy. RBI has said that the corona vaccine is a big discovery, but vaccination alone cannot prevent this epidemic. We have to make a habit of living with Corona. Along with this, governments will also have to prioritize investing heavily in healthcare and logistics.
The report said that by reducing the growth rate from 10.5 per cent to 9.5 per cent for the current financial year, the economy is still suffering a loss of Rs 2 lakh crore. This loss is mainly due to the impact of demand in rural and small towns. Apart from this, there is also an indication in the report that the concern of inflation is still big before the central bank, but despite this, there will be no strictness on interest rates. However, this year the loss is less as compared to the national lockdown imposed last year. Positive information is continuously coming from the industrial production and export front. The country’s economy has the potential to return to normal rapidly.
The possibility of a third wave remains intact.
However, the RBI also believes that there is a possibility of a third wave of corona and there should be no lack of vigilance to protect against it. In order to prevent this, along with social distancing, vaccination is also necessary, but vaccination alone is not enough to prevent it. This report is going to make you more alert about the far-reaching effect of Corona.