Breaking
  • Delhi govt to pay Rs 50,000 per hectare compensation to farmers
  • Lakhimpur Kheri case: SC to hear matter next on Oct 26, asks UP govt to file fresh status report
X
  1. You Are At:
  2. English News
  3. Business
  4. Swift recovery expected due to limited impact of lockdown on economy: Survey

Swift recovery expected due to limited impact of lockdown on economy: Survey

India's economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much.

PTI PTI
New Delhi Published on: July 11, 2021 13:06 IST
economy
Image Source : PTI

India's economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much.

India's economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much, a CII survey said.

About 60 per cent of CEOs participating in the survey expect that the recovery in sales of their companies would be better than that in the first wave of the pandemic.

"CII CEOs poll of 119 top corporates indicate swifter economic recovery from the impact of the second wave. The deadly second wave has not affected much of the economic activities as lockdowns were largely designed to limit social gathering and this has helped limit the impact of the second wave on economic growth when compared to the first wave," CII Director General Chandrajit Banerjee said.

The survey added that vaccination holds the key to mitigating the impact of the second wave on economic activity and boosting consumer sentiment. Over 60 per cent of the corporate leaders confirmed that their firms were compelled to scale back operations during the second wave, it added.

As per the survey, about 81 per cent of the respondents expected that the second wave in India would not have an adverse impact on the exports for their sectors in the first half of the current year than the comparable period of 2019-20.

"The buoyant external demand is buttressed by large-scale global stimulus and the fast pace of vaccination coverage across key global economies," it added.

Also Read: Sovereign Gold Bond Scheme 2021-22 – Series IV subscription opens on Monday: Check issue price

Also Read: Govt extends deadline for transaction, legal advisors to bid for managing IDBI Bank sale till Jul 22

Latest Business News

Write a comment