recovery: Economy likely to maintain V-shaped recovery: Finance Ministry

Economy


New Delhi: India’s economy is on course to perform better in the second half of the fiscal buoyed by sustained improvement in high frequency indicators while approval of emergency use of two Covid-19 vaccines will provide tailwinds to a V-shaped recovery, the government has said.

“The sustained improvement in high frequency indicators ignites optimism of an improved performance in the second half of the year,” the finance ministry said in the monthly economic review issued on Tuesday.

The impending vaccination against the coronavirus would spur momentum in economic activity globally, it said. Post-vaccination, resumption in economic activity and increased mobility are expected to drive the economic recovery in the aftermath of the pandemic, the government said.

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So far, two vaccines – Serum Institute of India’s Covishield and Bharat Biotech’s Covaxin – have been approved for emergency use while various other vaccines have successfully hit trial status in India.

The country has prepared a blueprint of a mega vaccination drive with plans to first immunise 300 million health workers.



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