Monday, June 14, 2021
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What will Covid do to India’s GDP mainstay? Economists paint grim picture even as businesses hold on to hope


Rural India saved the country during the first Covid wave. This time Covid infections have spread to the interiors like wild fire.

Synopsis

When Covid reached our shores last year, average Indian households were already reeling from economic stress. But with higher govt spending and loan moratorium support, the country managed to ride the first Covid wave. The second wave could be far more economically draining than the first one, say many economists.

The promoters of Jaipur Meat House can tell you exactly when people are facing financial stress. It starts when the orders for their famed mutton cuts decline. At this point, one can reliably surmise, the meat-eating Indian middle class is cutting down on their food expenditure. If chicken sales drop in the weeks that follow, it portends a deeper rot that is fast spreading into lower-income households.

What’s worrying now is that mutton sales

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