Chief Economic Advisor (CEA) KV Subramaniam hoped that its impact on the economy would not be as widespread.
Chief Economic Advisor
Chief Economic Advisor (CEA) KV Subramaniam said that the current infection of COVID-19 Pandemic may reach its peak in the middle of next month. He hoped that its impact on the economy would not be as widespread. He said this amid the rapid spread of corona infection across the country. Subramaniam said that his assessment of reaching the peak of corona infection is based on research from various organizations including the Indian Council of Medical Research (ICMR).
Addressing the event organized online by the Great Lakes Institute of Management, he said that he is not an expert on epidemics, so his assessment should be taken with a counter-thought in the same context.
Government has taken several steps to save MSME
Regarding the impact of the current transition on the economy, Submanium said that it should not be comprehensive as the government has taken several steps to curb the production losses especially for MSMEs.
He said that India has taken the initiative to turn this time of crisis into an opportunity and during this period, several reformist steps have been taken to remove supply side bottlenecks.
If the nationwide lockdown is imposed then the economy will suffer big loss
Let us know that the American brokerage company Bofa Securities cautioned that if a month-long nationwide lockdown is imposed in India, then the gross domestic product (GDP) can fall by up to 2 percent. The brokerage company has expressed the hope that a ‘lockdown’ will be imposed at the local level to prevent the spread of the COVID epidemic.
At the same time, Finance Minister Nirmala Sitharaman also sought suggestions from businessmen to avoid the damage caused to the country’s economy by the second wave of corona virus epidemic. Government of India is preventing COVID at various levels. Working together with state governments to save lives and livelihoods.
The finance minister had made it clear last week that the government would not impose lockdown on a large scale and that local support would be taken only to break the series of COVID-19.
read this also- Pension can stop you from losing PPO number, know how you can get it again from EPFO
read this also- PF money can be withdrawn without UAN, only this work will have to be done
(With language input)