COVID resurgence dents economy in April, May; loss of momentum not severe like last year: RBI article
The resurgence of COVID-19 has dented but not debilitated economic activities in the first half of Q1 of the current fiscal even though caseload of infections is much higher than before, according to an RBI article.
The ferocity of the second COVID-19 wave has overwhelmed India and the world, the article said, adding that war efforts have been mounted to stop the surge in its tracks.
‘The impact of the second wave on the real economy seems to be limited so far in comparison with the first wave. Evidently, the localised nature of lockdowns, better adaptation of people to work from home protocols, online delivery models, e-commerce and digital payments are at work,’ the article on the state of economy authored by RBI Deputy Governor M D Patra and other officials said.