Almost after two years, the covid norms in India were relaxed and all the businesses and economy as a whole are opened up. The pandemic that hit the world had affected the global economy. While the several countries that are developed are still recovering India had recovered its economy at a far greater pace.
According to the reports of the US treasury, the Indian economy has bounced back even after getting hit by three waves of covid and two major lockdowns. The Reserve Bank of India through its strategy of keeping important policy rates as it is to four percent since May 2020 and then commenced to slowly unrolled the extraordinary liquidity measures planned to aid the growth during the early phase of the covid pandemic.
Meanwhile, there has been a gradual surge in covid 19 cases all over the country. In some cities, masks are again made mandatory. There is speculation of the fourth wave of covid hitting the nation however, the experts from the Indian Council of Medical Research (ICMR) have said that there is no reason to panic.
Dr. Samiran Panda, ADG, ICMR said, “It's wrong to say the 4th wave is coming, we need to examine district-level data. A high number of cases in a few districts can't be considered as a uniform increase in cases across the whole country.” He further added, "Panic does not serve as a Covid pandemic response or public health response because a panic does not help to analyze the data or looking carefully to be so that’s why panic doesn’t serve a purpose.”