Due to increased unemployment and low salaries, many people did not have much money. There was decreased spending on non-essential items. So, consumption fell, and as a result, an economic slowdown occurred.
At present, India is facing the second wave of Covid-19. So, vaccination drive should be at a faster pace to vaccinate all as soon as possible. When a good percentage of people are vaccinated, it results in herd immunity, which provides indirect protection to those who are not vaccinated.
Setting up of Development Finance Institution is a good step because it is very important to fix the infrastructure issues in India. But the government must take steps to prevent the repetition of the same mistakes that caused the closure of earlier DFIs. There should be transparency and accountability to make DFI sustainable.
Transparency and better information sharing among countries are needed. When each and every country shares the information about the new virus cases or the possibility of the virus with the other countries, the world together can work on containing it and solving the issue immediately.