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Economy hit by COVID-19 second wave to start recovering from July: KV Subramanian

Jun-04-2021   09:27 Hrs IST

Chief Economic Advisor KV Subramanian has said 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. He stated ‘now, several states have started removing many restrictions and if we speed up the vaccination drive in our country, our economy will start recovering.’

Talking about the ongoing COVID-19 vaccination drive in the country, He said, ‘India will be able to achieve vaccination for all by December. If we vaccinate people in three shifts each day, then, we can vaccinate 1 crore people in a day. This is definitely ambitious, but not impossible. I have taken both doses of vaccine and appeal to all to get themselves vaccinated as soon as possible.’

He mentioned that the ongoing vaccination drive can significantly 'lower down' the impact of the pandemic. Thus, the more people are vaccinated, the more it will lower down the impact of the third wave and will not be as harmful as expected. Besides, He said that COVID-19 is not going to impact country’s fiscal deficit target and disinvestment target.