Swift recovery expected due to limited impact of lockdown on economy: Survey
PTI, Jul 11, 2021, 1:03 PM IST
New Delhi: India”s economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much, a CII survey said.
About 60 per cent of CEOs participating in the survey expect that the recovery in sales of their companies would be better than that in the first wave of the pandemic.
“CII CEOs poll of 119 top corporates indicate swifter economic recovery from the impact of the second wave. The deadly second wave has not affected much of the economic activities as lockdowns were largely designed to limit social gathering and this has helped limit the impact of the second wave on economic growth when compared to the first wave,” CII Director General Chandrajit Banerjee said.
The survey added that vaccination holds the key to mitigating the impact of the second wave on economic activity and boosting consumer sentiment.
Over 60 per cent of the corporate leaders confirmed that their firms were compelled to scale back operations during the second wave, it added.
As per the survey, about 81 per cent of the respondents expected that the second wave in India would not have an adverse impact on the exports for their sectors in the first half of the current year than the comparable period of 2019-20.
“The buoyant external demand is buttressed by large-scale global stimulus and the fast pace of vaccination coverage across key global economies,” it added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Pune court asks police to probe bribery allegations against IT major Cognizant
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
MUST WATCH
Latest Additions
Kejriwal continuing as CM even after arrest puts political interest over national interest, says Delhi HC
Annual religious festival of Sri Mahalingeshwara temple commences in Kalathur Village
Bollywood star Shilpa Shetty visits Sri Kodamanittaya Kshetra
Firing outside Salman Khan’s home: Lookout circular issued against Anmol Bishnoi
Pune court asks police to probe bribery allegations against IT major Cognizant