The Indian economy is in a better shape as compared to the first wave of Covid waves because of the availability of vaccines, Chief Economic Adviser K V Subramanian said.
The uncertainty is much lower this time because of the vaccines and vaccination drive, but people should be careful and follow the regulations.
“There is a second wave therefore people should be careful about it and follow all regulations. But overall compared to the previous episode, we are in a better shape because the vaccine is out and vaccination drive is proceeding. So uncertainty is much lower,” he said.
Subramanian said the Indian economy is equipped very well to usher in a significant growth in e-commerce because of the rollout of e-commerce and digitisation, during the pandemic.
As many as 800 million people were provided essential supplies through PDS and cash transfer through Jan Dhan, Aadhaar, Mobile (JAM) with a click of button, while most advanced countries like the US provided financial support to its citizens by issuing cheques implemented over 2 months, he said.
Subramanian also suggested MSMEs to embrace technology and invest in innovation for growth of their businesses.