There has always been a lot of load on health care sector, already, also, seeing a 3rd wave won’t be good for any of the beings present. Where at one point health care worker are trying hard to push the viral load, from the other point, here comes the reports that government is trying to provide economic stimulus package for hardly hit sectors!
The government has kept its aim at the key sectors of economy which were hit hard by the local lockdowns and curfew. Some sectors that are being focused on are tourism, aviation, hospitality sectors along with small and medium-sized companies. The discussions are still in the early stages and no timeline has been shared for the announcement of the economic relief package.
The second wave of covid has taken a greater toll from our economy than it was expected from it. Though, the nation wide lockdown was not announced, yet, India was under some or the other form of lockdown, that accounts almost 98% of our country. Small and medium-sized enterprises have also started facing severe losses due to lack of operations and mobility during the second wave.
Besides job losses and u employment, there was also a hike in price, which was observed in no time soon. We have ourselves seen the prices of medicines and oxygen cylinders rising, due to high demand. An SBI report recently flagged concern about higher prices of key essential commodities and said that it will impact demand for non-essential goods. All of these factors are likely to slow down the economic recovery momentum in the long run.