COVID-19 Vaccination: The ministry said, the slowing down of the second wave of COVID-19, the rapid improvement of the vaccination campaign and the fiscal measures planned in the Union Budget will increase the investment process in the coming quarters.
The Finance Ministry said in its monthly economic report that it is very important to accelerate the pace of COVID-19 vaccination and run it on a large scale to revive the pace of economic growth. The ministry said, the slowing down of the second wave of COVID-19, the rapid improvement of the vaccination campaign and the fiscal measures planned in the Union Budget will boost the investment process in the coming quarters.
Regarding the impact of the second wave of COVID-19 in the report, it has been said that its impact on the manufacturing and construction sector in the current quarter may be mild. The report stressed that accelerating the pace of vaccination and campaigns is critical to regaining the momentum of economic recovery.
It is necessary to strictly follow the guidelines related to COVID-19
In the report, the ministry said that in order to save lives and livelihoods, strengthening the health infrastructure, expediting vaccination, research on different forms of the virus, thinking and imposing restrictions in advance and strict guidelines related to COVID-19. It is very important to follow.
Economy in ‘V shape’
The pace of the second wave of COVID-19 in the country has slowed down in the last few days. There has also been a steady decrease in active cases for the last few days. According to the data, the second wave of COVID was at its peak around May 8, after which it has decreased.
It was also seen in the report that during the second half of FY 2020-21 in the country, there was a ‘V shape’ i.e. rapid recovery in the economy.
The report said that due to the estimated growth of 0.5 per cent in the economy in the third quarter of the last financial year and 1.6 per cent in the fourth quarter, it improved to 7.3 per cent in the second advance estimate, compared to the earlier 8 per cent fall in the annual GDP.
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