Normal Life Can Resume Once We Have Covid Vaccine: CEA

Chief Economic Adviser KV Subramanian gave his assessment of the economy and the impact of the coronavirus pandemic on the state of the economy. Mr Subramanian said normal life can resume once an effective vaccine comes. Some drug companies have reported good results from the third phase trials. The government had announced new measures to support the manufacturing sector and create jobs after the Reserve Bank of India said the country was set to enter a recession with estimates of another quarterly contraction. The government has, however, said the economy was now recovering strongly, pointing to global ratings agency Moody's revision of India's calendar year contraction to minus 8.9 per cent from its previous minus 9.6 per cent estimate.