Faster Covid vaccination critical for economic recovery, says FinMin

Expects manufacturing, construction sectors to be in stress in ongoing qtr

The finance ministry on Wednesday said that quickening the pace and coverage of vaccination is critical to helping India heal and regain the momentum of economic recovery.

It further said manufacturing and construction activities are expected to experience a softer economic shock in the April-June quarter of the current fiscal year due to state-imposed restrictions.

“The onset of the second wave of Covid-19 since mid-February 2021 and localised or state-wide restrictions adopted to combat its spread, have posed a probable downside risk to the momentum in India’s economic recovery in the first quarter of FY22,” said the finance ministry’s department