'Indian economy to bounce back, emerge stronger post COVID': FICCI President Sangita Reddy

As India is better posed in its fight against COVID-19, Federation of Indian Chambers of Commerce & Industry (FICCI) President Dr Sangita Reddy on Sunday said that Indian ecomy is set to bounce back and emerge stronger as country's strategy of dealing with COVID-19 crisis has paid off even as re was standard playbook to follow.

" speed, virality and impact of COVID-19 contagion is unprecedented. re was standard playbook for pandemic manment. dilemma for governments across world was creating a balance between protecting lives and livelihoods. India took path of a strict lockdown to ramp up health infrastructure and focused on human lives. This strategy has paid off. Science evolved to give better cures, medical infrastructure was created, supplies like PPEs ramped up and our death rate has been contained," said Reddy.

She also pointed out dramatic fall in daily new caselo of COVID-19 infections in country, ding that India's recovery rate and case fatality ratio is much better compared to many or countries. "Our health data points to a healthier destiny. Yet we must continue to educate on prevention and stay vigilant while gearing up for vaccine," she contended.

"It's clearly time for bold actions on livelihood front. recent monetary policy assures that government and regulator will do everything it takes to keep ecomy afloat. Let us start pushing our growth nda vigorously," said Reddy.

"re has been a pick-up in e-way bill volumes, improvement in revenue earning freight traffic of major commodities, positive growth in exports and most significantly an increase in September GST collections to almost pre-COVID-19 level. se incremental trends are heartening and need to be sustained, and furr initiatives like consumption vouchers (which was ar one of FICCI's recommendations) must continue to remain focused on demand generation," she ded.

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India's fight against COVID-19

Active cases of COVID-19 in India remained below 6 lakh for third consecutive day, comprising only 6.97 per cent of total caselo,  Union Health Ministry said on Sunday.  active cases have dropped to only 6.97 per cent of total cases of country demonstrating a stey falling percent of total cases, ministry stated.

India has reported 46,964 cases and 470 new deaths in 24 hours on Sunday. daily new caselo which h once reached over 95,000 cases has drastically dropped to below 50,000 new COVID-19 cases. Also, country's recovery rate has surpassed 90 per cent on Wednesday and currently, recovery rate stands at 91.53 per cent, while fatality rate is a minimal 1.49 per cent.

India has also conducted COVID-19 tests across country on a massive scale. country has conducted nearly 11 crore COVID-19 tests in mission mode with more than 10 lakh tests on an aver in past month. On Sunday, ICMR has reported that 10,91,239 tests were conducted in 24 hours.

India's COVID-19 tally stands at  81,84,083 cases of which 5,70,458 are active cases and 1,22,111 have succumbed to virus, while a massive number of 74,91,513 cases have recovered.

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