The Centre is worried about rising inflation accompanying the expected rebound in growth as the second wave of the coronavirus recedes and the states unlock themselves.
Principal economic adviser Sanjeev Sanyal on Thursday said rather than rushing in and announcing a bunch of new measures, it is more sensible to watch and act quickly based on the situation.
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“We need to watch carefully what the data is saying rather than pre-judge how the economy will behave from here on,” Sanyal said at an event organised by the Merchant Chamber of Commerce.
“While we continue doing all the good things that were said in the budget and continue to support demand, we need to be very careful of the secondary impact of inflation,” Sanyal said.
Wholesale distributors in Kerala observe token strike against Tata Consumer Products over contract termination
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Roads and footpaths continued to be deserted on Wednesday
MUMBAI: The state cabinet on Wednesday unanimously decided to extend the lockdownlike restrictions in Maharashtra for another fortnight, that is, from May 1 to 15, after the current fortnight of curbs ends at the end of this month. The decision came on a day the state recorded 985 Covid deaths, its highest daily toll since the start of the pandemic.
While public health minister Rajesh Tope said all cabinet ministers were unanimous that the curbs be extended to check the spread of Covid-19, NGOs working for the poor and representatives of the retail sector and restaurants said the restrictions were having a serious adverse impact and they had expected some relief.
Vice-chairman of Niti Aayog
Rajiv Kumar on Thursday said that the private sector of the country will have to drive growth and not the public enterprises as they used to be. Speaking at a webinar organised by Merchants Chamber of Commerce and Industry, Kumar said that the private sector also needs to create trust with the government, which is the need of the hour. The private sector of the country has to be the key driver of growth. Earlier, the public sector used to drive the growth engine, but not now, Kumar said. The Niti Aayog official said that India needs to speed up growth rates to at least eight per cent to address the issues of reduction of poverty, improving the healthcare system and increasing the reach of education.
‘No growth projections yet for FY21 given uncertainty’
April 29, 2021
Rajiv Kumar, Vice Chairman, NITI Aayog - PTI×
If India vaccinates 50% population, economic activity will bounce back, says Rajiv Kumar
Rajiv Kumar, Vice Chairman, Niti Aayog on Thursday said that it has not yet made any growth projections for the current fiscal as there is still a lot of uncertainty about the course of the pandemic.
However, he added that if India can achieve 50 per cent vaccination by the end of 2021, then economic activity is bound to bounce back – aided by the various economic reforms undertaken over the past eight months.
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