Covid Second Wave Impact Affects Demand, Employment

RBI says that the second wave of epidemic has affected demand

The Reserve Bank of India (RBI) has said that the biggest toll of the second wave of the Kovid-19 epidemic has been in the form of a shock of demand – mainly in terms of mobility, discretionary spending and employment.

The central bank noted in its monthly bulletin that the revival of Kovid-19 has not weakened, but weakened economic activity in the first quarter of the current financial year.

Although highly temporary at this stage, the central trend of available diagnostics is that the loss of motion is not as severe as it was a year ago, the RBI notes.

It has been observed that the pace of the second wave of the epidemic has overwhelmed India and the world, but war efforts have been intensified to prevent a second surge in its tracks.



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