“Economy to recover faster from impact of second wave, limited impact of lockdown” Economy will recover faster from impact of second wave, limited impact of lockdown according to a Survey

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

Nearly 60 percent of CEOs surveyed said their company’s sales recovery would be more rapid than in the first wave of the pandemic. 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.

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 that 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 at the global level is better due to large incentives and fast pace of vaccination.