The pandemic COVID 19 has immortalised itself in the hearts of every small business owner, salaried class, and middle-class families.
India’s economic recovery, if it has be broad-based i.e. includes everyone, will have to include the above mentioned sections of the society.
Because of the pandemic, the lifestyle of millions of Indians has been changed. These people are no longer able or willing to spend money on discretionary expenses. Thus, the reduced flow of capital in the Indian economy makes the recovery process for all even more difficult.
Though, on paper, the reports of the last two consecutive quarters has been uplifting with the expansion being 0.4%, however, experts opine that the analysis may be more mathematical than actual.
Also read: Investors cheer as Nifty breaches and holds above 15,000
V-shape recovery is one in which once a low has been hit, the recovery is just as sharp as the decline was.
This V-shape recovery, which had been predicted by high officias of the government, while the pandemic was in full swing is missing the middle class.
Economic experts have inferred that the growth of India has skipped small low-end manufacturing firms.