HOW COVID-19 SECOND WAVE THREATENS INDIA'S ECONOMY-EXPLAIN IN DETAIL

Dear student,
Although second wave of covid -19 has impacted the health infrastructure very severely but its effect  on economy would be moderate as compared to last year.
The ongoing Covid second wave is threatening India’s economic growth. India’s GDP growth rate may fall to 9.8 per cent, if the ferocious second wave of Coronavirus infection peaks by May-end. However, if the pandemic peak is reached by June-end, then the GDP growth rate is likely to drop to 8.2 per cent. So far, the base GDP growth forecast for fiscal 2022 is pegged at 11 per cent, with risk firmly tilted downwards.
Regards

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Several ratings agencies and brokerage houses have forecast India?s economy to bounce back soon after the second wave reaches its peak. A report by SBI economists suggests that India is likely to reach its peak by mid-May if vaccination efforts are ramped up.Even as efforts have been ramped up to break the chain of infections, the economic damage on some sectors could have a cascading effect on the medium-term growth outlook.
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