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Home Main Story

Why is the second wave of covid shaking the country’s economy so much?

The Edge Media by The Edge Media
4 years ago
in Main Story, National Edge
Reading Time: 2 mins read
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Prime Minister Modi, who announced the complete lockdown in the country in March last year, stressed in his latest address that it is necessary to save the country from lockdown.


 There are solid reasons behind his saying, the entire country has gone through a lot of difficulties and challenges due to the covid infection in the thirteen months of March 2020 to April 2021.  

After the lockdown, efforts were made to bring the country’s economy back on track by starting the process of unlocking.


 Until last month, it seemed that the economy of India was devastated by the epidemic.  In view of this recovery, several international rating agencies and the International Monetary Fund (IMF) had predicted India’s growth rate to grow between 10 and 13 percent in FY 2021-22.


 But not only has this recovery been braided due to the second horrific wave of corona virus in April, but the boom in the last six months seems to be moving. 

 The rating agencies have reduced India’s growth rate by two percent, making changes in their forecasts.


 Now, with the state governments making announcements of new restrictions almost daily, there are bound to be obstacles in the development of the economy. 


 Unemployment is increasing, there are full signs of rising inflation and migration of workers from big cities has also started.


 According to Finance Ministry sources, the central government is taking a deep review of the economic situation. 


 The government has come to the conclusion that the lockdown will not be imposed across the country like last year and there is no such plan this time in the way that large economic packages were given in 2020.  Help will be given, but it will be according to the need.

Tags: Chinar CorpscoronacovidCovid 19covid freecovid India updatecovid testCovid updatecovid vaccinecovid-19COVID-19 diagnostic kitCOVID-19 UpdateCOVID-19 VaccineINDIA COVID UPDATEModel of carmodiModi governmentMODI jiYogi model
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