The second wave of the coronavirus epidemic could pose a new threat to India’s economic recovery. That’s what Moody’s Investors Service, an international financial analyst, thinks. It fears that the government’s crackdown on the second wave of the epidemic could lead to a negative financial situation, which could be a challenge to the country’s economic recovery.
Agency reviewers said Monday that economic growth could be difficult to assess in the event of a bankruptcy. This is because the measures taken to control the infection will affect the economic growth. This will affect the feelings of the customer and the market. As many as 1,831,838 new cases of infection were reported in India on Tuesday. Which has surpassed Brazil’s daily infection rate, making it the second most infected country in the world after the United States.
While Maharashtra has been severely affected by this, it is also home to the country’s financial capital. Lockdown has now been taken over for weeks in the crackdown on corona control. So far, however, the government is taking other contentious steps instead of widespread lockdowns in the country. India’s GDP is projected to grow by 2021.
In a note, Barkley hopes that India’s comprehensive vaccination program could help reduce the cost of living in the wake of the second wave. However, Moody’s warned that the lack of vaccines in the country could slow down the ongoing program. But in the event of a resurgence in India, it is speculated that the approval of the Russian vaccine Sputnik-5 could be helpful in rectification.
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