It has warned of the possibility of a succession of corona waves if vaccination work in India is not speeded up.
As on May 5, only 9.4 per cent of India’s population has been vaccinated with the first dose. According to world statistics, 16.94 crore people have been vaccinated as on 9th.
In a statement, the Fitch Research Institute, which provides economic assessment standards, said, “The work in India is going on slowly. If vaccination work is slow, there is a high probability that a succession of corona waves will develop after the current 2nd wave in India.
According to the indicators in wave 2, the RBI may provide more economic concessions to rescue financial institutions from trouble as it will put further pressure on financial institutions in the country.
Despite the high incidence of corona and loss of life in wave 2, we expected the impact on the economy in the first wave in 2020 to be in the second wave. But that was not the case.
Only April and May may see economic activity slow, and economic recovery could backfire a bit.
As it stands, the authorities have implemented the curfew in various states but have not affected economic activity. But the implementation of long-term lockdown in more states will have an economic impact.
This is what the Fitch company said.