Chief Economy Advisor (CEA) KV Subramanian said on Friday that the Indian economy is in a better position than the previous COVID-19 wave compared to last year.
“There is a second wave so people should be careful about it and follow all the rules,” he said, speaking at an event organized by Amazon. “But overall, compared to previous episodes, we are in a better shape because the vaccine is out and the vaccination campaign is moving forward. So the uncertainty is very low, ”said the CEA.
After the outbreak of the epidemic in 2020, India went for a tight lockdown, leading to a massive contraction of around 24% in GDP.
In early March of this year, a second wave began to rear its head with a sudden jump in cases, forcing many states to seek local sanctions. On Friday, India recorded 2,17,353 new coronavirus infections, according to data from the Union Ministry of Health. This is the second consecutive day the country has reported more than two lakh cases.
The CEA said “One of the key things that came up during this epidemic is the role of e-commerce and digitization that India has adopted.” Essential supplies were provided to more than 800 million people through the public distribution system and Jan Dhan, Aadhaar, Mobile (JAM), with a click of a button, while most advanced countries like the US released financial aid to their citizens. It said that the checks for more than two months were implemented.
“I think the Indian economy is actually very well equipped compared to the significant growth in e-commerce,” he said.
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