The economy will soon recover from the impact of the second wave of Corona, the effect of the lockdown is limited: Survey

New Delhi: The Indian economy is expected to recover rapidly from the impact of the second wave of Kovid-19. A survey by the Confederation of Indian Industry (CII) said that the lockdown during the second wave was mainly imposed to limit social events or overcrowding. Economic activities were not affected much by these.

Nearly 60 percent of chief executive officers (CEOs) surveyed said their company’s sales would improve more rapidly than in the first wave of the pandemic.

CII Director General Chandrajit Banerjee said, “The views of 119 top companies have been included in the survey of CEOs of CII. The survey indicates that the economy will recover more quickly from the effects of the second wave. Economic activity was not affected much by the second wave, as the lockdown was imposed during this period to reduce overcrowding. The lockdown in the second wave will have a limited impact on the growth of the economy as compared to the first wave.

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The survey said that vaccination is the most important way to reduce the impact of the second wave on economic activity and strengthen consumer sentiment. 60 percent of CEOs surveyed said their companies reduced their operations during the second wave.

81 percent of CEOs surveyed said that the second wave would not affect their sector’s exports much in the first half of the current year as compared to the same period last year. The survey said that the demand situation is better at the global level with big incentives and fast pace of vaccination.

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