Economic recovery to continue even in event of third wave: FinMin

The index of eight core industries for July 2021 rose 9.4 per cent year-on-year (YoY)

India’s economic recovery, impacted by the second wave of Covid-19, will be faster in the next three quarters even if a third wave hits the country, the finance ministry has said. This confidence, it said, was mainly due to the intensification of the vaccination drive and several economic parameters returning to pre-Covid levels.

“Rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can continue even in the event of a third wave,” the finance ministry’s Department of Economic Affairs said in its monthly review for August.

However, the ministry raised concern about the high incidence