Lift pandemic-induced restrictions on economic activity: CII

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New Delhi, January 23

Ahead of Union Budget 2022-23, the CII has urged state governments to lift restrictions on economic activity, given that the occupancy rate of hospital beds due to the Omicron variant is well within manageable levels. The Budget, coming during the third wave of the pandemic, is expected to focus on measures for strengthening economic recovery.

CII has asked the Government to encourage industry to deploy CSR funding for precautionary vaccination shots. The industry is ready to contribute an additional one per cent under CSR norms to the national vaccination mission, apart from the mandated 2 two per cent, suggested CII.

"Hospitalisation rates in the present wave stand at manageable levels and therefore, industry feels that Covid-related restrictions can be removed to enable the robust recovery process to continue," said the CII in a letter written to Chief Ministers, asking them to set up micro containment zones only when hospitalisation rate crosses 75 per cent. "With a lower level of hospitalisation seen in the Omicron variant, it is possible to maintain normal economic activities and protect lives and livelihoods," said CII president T V Narendran, in a statement.

The CII chief also wanted investments under the National Infrastructure Pipeline and Gati Shakti programme to be fast-tracked.

"With bounceback in demand, the economy is expected to achieve 9.2 per cent GDP growth. While vaccinations have helped in dampening the impact of Omicron on the lives of people, the present conditions are conducive to opening up the economy completely while keeping large social gatherings to a minimum," he noted.

The Tribune