The second wave of COVID-19 pandemic can have an indirect impact on economic activities, so we need to prepare ourselves for a great uncertainty both in terms of consumption and investment, Niti Aayog Chairman Rajiv Kumar said on April 18, 2021.
He also said that the government would respond with fiscal measures as and when is required.
The present COVID-19 situation has become far worse than it was in the past, he said, adding that the country will achieve 11 percent economic growth in the current fiscal ending on March 31, 2022.
“Apart from their direct impact on some sectors like the services sector, the second wave will increase the uncertainty in the economic environment, which can have wider indirect effects on economic activities. So, we need to prepare for greater uncertainty, both in consumer and investor sentiments,” Kumar told PTI.
“And as you have seen from RBI’s response, the expansionary policy stance has been continued, and I am sure the government will respond with necessary fiscal measures also as and when it is necessary,” Kumar said.