RBI calls for faster inoculation; Service sector suffered in the first wave

RBI says that India can prepare with confidence if more people get vaccinated now. Faster vaccination holds the key to an escape from the pandemic. The impact of the first wave was on the service sector, which suffered heavily as the activity in contact with intensive services came to a near standstill during the pandemic. Aviation tourism and hospitality have suffered religiously. RBI now says that this could be a problem looking at the current trends, and it's best to evacuate and vaccinate people faster. RBI's annual report consist says the year gone by has left a scar on the economy. It mentioned that the economic cost of this wave could be limited to the first quarter of the current financial year.

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