New Delhi: Moody’s Analytics on Monday said that the second wave of the Kovid-19 pandemic may have a long-term adverse impact on the Indian economy and will once again become the basis for export revival. Moody’s Analytics said in a report titled ‘APAC Economic Outlook: Delta Constraints’ that social distancing is having an impact on the current quarter, but the economic revival will resume by the end of the year.
According to the report, the delta variety of Kovid-19 is now one of the factors adversely affecting the economies of the Asia-Pacific (APAC) region, but the impact of restrictions on movement in the region was similar in the second quarter. Last year. The economic slowdown will not be as severe.
The share of exports in the economy in India is relatively low. Higher prices of commodities have increased the value of exports. This is one factor that helped India get back on track after the disastrous first wave of Covid-19.
The report said, “When the second wave is now approaching its end, its damage can be seen in the economy for a long time. This is because small businesses are being adversely affected by this pandemic. Also, exports Will happen once again.” be the basis of the resurrection.
According to Moody’s Analytics, India seems to be struggling to ramp up its vaccination campaign. It added that while the global economic recovery continues at a solid pace, this is not reflected in the short term in some countries in Asia, especially Southeast Asia. This is because of the spread of the delta version of Covid-19 across the region and social distancing restrictions to prevent it.
According to Moody’s Analytics, the growth rate of global GDP (Gross Domestic Product) this year will be 5 to 5.5 percent. This is higher than the expected growth rate of 3 per cent. This is because of the ongoing revival since last year’s pandemic-related softening.
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