Economic impact of Covid-19 is huge, world won't be the same: PM Modi

Remarks come in the backdrop of rating agencies revising growth forecasts as the second wave has impacted economic recovery and increases the risk of long-term scarring

The economic impact of the Covid-19 pandemic is “huge” and the world will not be the same after the virus recedes, Prime Minister Narendra Modi said Wednesday.

The once-in-a-lifetime pandemic has brought tragedy and suffering at the doorstep of many, the prime minister said. “The pandemic has impacted every nation. The economic impact is huge, as well,” he said while delivering the keynote address at the Vesak Global celebrations.

The prime minister’s remarks came against the backdrop of several rating agencies revising their growth forecasts for India downwards, with the second wave of the Covid-19 pandemic severely impacting economic recovery, besides increasing