Nearly 55% Indians categorically stated that they were worse off than they were a year ago.
The country’s GDP had dwindled by 24.38 percent in the first quarter of 2020-21. It had bet on a household-consumption economic revival that may now take much longer to show results.
The India’s record-breaking second Covid-19 wave, which threatens to derail the global economic recovery, has now put the international community on Red Alert.
The Indian economy may be facing its biggest crisis yet. Its foundations, however, remain robust. Despite short-term setbacks, India’s sterling performance over the last decade and recently introduced policy reforms should have a synergistic effect on growth in 2021-22.