A rocky revival road

18 JUL,2021 | MEDC


 

The second Covid wave may have been deadlier than the first in terms of total casualties, but the economy has not been as severely impacted by it. Thanks to targeted fiscal relief, monetary policy measures and a vaccination drive proceeding at full speed, India’s economy is showing signs of recovery. However, the road to revival remains rocky with key indicators such as port traffic, air traffic, PMI Manufacturing and Services showing a lag in rebounding from the second wave. But our economy has fared better than many of its peers. Consumption sentiment is expected to rise with a further enhancement of employment support under various government policies, and wider digitization coverage. Many problems still remain, but the encouraging progress of the monsoon, supply-side market interventions, and the gradual unlocking of states will all have a positive impact on the revival process.

*Photo Credit: Google

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