Looming economic recovery

20 FEB,2022 | MEDC


 

The third wave of Covid has officially peaked in India, and our economy is gaining momentum as it comes out of this relatively less-virulent upsurge. RBI has said that both manufacturing and services remain on an expansionary mode, with optimism on demand parameters and rising consumer and business confidence. With experience gleaned from the past two waves, better planning and improved management of supply chain logistics, as well as accelerated digitalization strategies, enabled companies to mitigate the impact of the third wave. India is also expected to harvest a record wheat, gram and mustard crop in the ongoing rabi season.  This could ease some of the food inflation concerns, which impact the poor the most. According to the Finance Ministry, the post-third wave economic reset is expected by the year-end. Administrative measures to enhance tax compliance, and rate rationalization measures to correct the inverted duty structure are some policy steps likely to facilitate the looming economic recovery.

 *Photo Credit: Google

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