India’s economy will do well once vaccination reaches a critical mass as pent-up demand, global recovery and easy financial conditions will boost activities, RBI’s Monetary Policy Committee (MPC) member Ashima Goyal said on Tuesday.

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As India battles a ”fearsome” second COVID wave, she also said the damage to the economy due to lockdowns is much less and is unlikely to extend beyond the first quarter of the current fiscal.

”India has the potential to be a centre of vaccine production and will be able to ramp it up soon. Once vaccination reaches a critical mass, the economy will do well with pent-up demand, global recovery, and easy financial conditions,” she told.

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