NEW DELHI: Chief economic advisor (CEA) K Subramanian on Monday reported the total effect of the next wave of Covid-19 around the nation’s market is unlikely to be big but cautioned concerning a doubt surrounding the outbreak going forward.
He said that given the situation as a result of pandemic, it’s hard to predict whether the nation would attain a double digit increase in the current financial crisis.
Even the Economic Survey 2020-21 published in January this year had estimated GDP increase of 11 percent during the current fiscal year end March 2022.
Subramanian said it might be”hard to predict precise expansion number which the nation could attain as the route for pandemic nevertheless remains unclear”.
He, however, explained,”The general financial effect of the next wave is unlikely to be large” Moving ahead, monetary and fiscal support will be significant for market, the CEA additional.
Observing that there’s a need to increase rate of vandalism, Subramanian stated it might assist in reducing likelihood of some other Covid-19 wave.
On inflation, he also said it’s anticipated to become range-bound and shouldn’t exceed the prescribed amount.
The CEA additionally stated that food processors production is estimated to be in record levels this financial amid anticipation of regular monsoon.