Economy hit by COVID-19 second wave to start recovering from July: Chief Economic Advisor
ANI / Updated: Jun 3, 2021, 20:56 IST
New Delhi: Chief Economic Advisor
KV Subramanian on Thursday said that the second wave of COVID-19 has affected the momentum of economic recovery. However, he also pointed that he expects a recovery in the
economy from July onwards. The second wave of COVID-19 has affected the momentum of economic recovery. We expect a recovery in the economy from July. Now, several states have started removing many restrictions and if we speed up the vaccination drive in our country, our economy will start recovering, Subramanian told ANI.
Economy will start recovering from July: CEA
04 Jun 2021, 01:56 GMT+10
By Shailesh YadavNew Delhi [India], June 3 (ANI): Chief Economic Advisor KV Subramanian on Thursday said that the second wave of COVID-19 has affected the momentum of economic recovery. However, he also pointed that he expects a recovery in the economy from July onwards. The second wave of COVID-19 has affected the momentum of economic recovery. We expect a recovery in the economy from July. Now, several states have started removing many restrictions and if we speed up the vaccination drive in our country, our economy will start recovering, Subramanian told ANI.
State Bank of India’s business activity index has fallen below the level before the coronavirus pandemic, affected by lockdowns and restrictions in cities and states to slow down the outbreak.
The in-house Index of India’s largest bank dipped to a low of 75.7 a level it had attained in August 2020, “and now a clear 24.3 per cent down from-pre pandemic level”.
All indicators, except for labour participation and electricity consumption, have declined significantly in April, the index shows.
“Labour market disruptions are still manageable unlike the first wave” of the pandemic, according to Soumya Kanti Ghosh, the lender’s chief economic advisor.
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Press Release – Westpac Westpac NZ Chief Economist Dominick Stephens will take up a ten-month secondment later this month as the New Zealand Treasurys Deputy Secretary, Chief Economic Advisor. At Treasury, Mr Stephens will take on the Chief Economic Advisors responsibilities …
Westpac NZ Chief Economist Dominick Stephens will take up a ten-month secondment later this month as the New Zealand Treasury’s Deputy Secretary, Chief Economic Advisor.
At Treasury, Mr Stephens will take on the Chief Economic Advisor’s responsibilities for ensuring that the Treasury’s policy advice on lifting New Zealand living standards is supported and strengthened by sound economic theory and evidence.