Impact of Omicron Variant on India’s Economy-A Report

 

After the second wave of pandemic, the spread of the omicron variant has once again created fear among people. With the pace of vaccination, India has gained maximum control over the infection but still, there is a need of taking precautions at the strict level. As far as the Indian Economy is concerned, then the new variant is not going to show any adverse impact. 

As per the report of the finance ministry, India’s economy will step towards the recovery process. Since the accelerated pace of vaccination has reduced the possibilities of complete lockdown that proved accountable for economic degradation in the previous days. 

However, the Omicron variant has been reported to be more contagious than delta. But the positive thing in India is that more than 50% of the population is now vaccinated. The statistical values of the vaccination survey reveal that more than 86% of the population has got vaccinated with the first dose. 

As the second wave of the pandemic was quite severe and took away the lives of many people. Thus India has made substantial preparation to manage expected threats by covid. 

As per the statement of the ministry, people need to continue with the government guidelines to safeguard themselves from the covid infection despite getting vaccinated. 

Folks need to travel by taking all prescribed covid protocols into their view. They must wear a mask and take care of social distancing.

Report collected from Indian Economy News:

As per the report collected from Indian Economy News, India has witnessed growth in four consecutive quarters. The economic recovery has been initiated by focusing on manufacturing and agricultural industries. Survey reveals that the Indian government managed the economic growth by revitalizing the macro and micro industries for growth at a faster rate. 

Apart from growth through these factors, economic recovery is expected to get accelerated in the remaining quarters of the financial year. The claim is based on the report of High-Frequency Indicators (HFIs) in September, October, and November of 2021. 

But even then, the new variant omicron may lead to the risk for ongoing recovery within the country. Additionally, the presence of new variants has shown its impacts on other countries also. Some of them include Australia, and Hong Kong to the U.K. and the Netherlands. Its impact has made these countries reconsider the safety measures to protect lives. 

Still many countries have lifted the lockdown. Some of them exist with partial lockdown and have been permitted to open offices with a capacity of 50% employees only. In the meanwhile, India is also on the verge of reconsideration about the allowance of international traveling. At the airport of various places, the covid test is mandatory to ensure complete safety. 

The doubts regarding the impact of omicron variant, India need to increase the vaccination rate much more. Vaccinated people are likely to develop mild infection rather than getting onto severity. The Indian government suggests people stick to the covid protocol to avoid the situation that they faced during the second wave. 

Recently some fresh case was reported in India. Hence the lack of precaution may cause severe scenarios and might be out of control later. The Omicron variant of the SARS-CoV-2 has originated from South Africa. As per the report of the World health organization, the new variant is a serious concern and may cause uncontrolled infections among people.

Conclusion:

A bit of carelessness may lead to the rapid transmission of the infection. So strict care may save the lives of many people and may also contribute to rise in the Indian economy.

Thus, protect yourself to protect the entire human community as well as the wealth of the country for growth and financial security.