The Economic Corner || What is the major election update coming from India?

India’s Serum Institute said that there is a shortage of vaccine jabs and it will persist for months. The alarming situation in India is having the ripple effect across the globe – US followed other countries in restricting travel from India and international banks are also reported to be pulling out of India.  Passengers on airplanes, buses and other forms mass transportation in the U.S. will have to keep wearing masks. New York City restaurants can expand their indoor dining capacity to 75 per cent on May 7.

In its last update in February the Bank announced a 5 per cent rise in output this year following the 9.8 per cent slump in 2020. Unemployment was also slated to rise to 7.8 per cent. But with the outlook improving, this looks slightly too pessimistic. China is New Zealand’s largest trading partner, accounting for 29 per cent of the exports last year.

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