India's daily infections recorded the highest number of cases in a single day among countries worldwide in the last week, and daily deaths have crossed the peak of the first wave.

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CRISIL has written a report on the impact on key economic indicators and to discuss that CNBC-TV18 spoke to Dipti Deshpande, Senior Economist at CRISIL​.

On the second wave Deshpande said, “The second wave was anticipated, what was not is the extent of spread, the rapid spread and its impact it is causing on healthcare. So lockdown and restrictions have become inevitable in certain parts of the country and therefore an impact on the economy is definitely going to happen to some extent.”

She added, “The second most important thing is that if you look at dispersion cases across the states its gradually now becoming a lot more similar to the September peak, but what is also worrying is that number of cases are more than 3 times what we saw in September. So the caseload is high and the burden is high.”

On growth forecast, Deshpande said, “For now what we believe is that downside risk to our growth forecast are somewhere growing in but we still need to wait and watch a bit. For now, we are maintaining our GDP forecast for FY22 at 11 percent.”

“Our understanding is that the impact on economic activity may not be as dramatic as it was during a previous lockdown or the same time last year. We still look at FY22 emerge as a story of two houses. The first one naturally affected by the base effect and the pandemic spread but in the second half it is going to be a little more better as vaccination comes to the fore.”

Watch accompanying video for more.

(Edited by : Abhishek Jha)

First Published:Apr 27, 2021 1:49 PM IST