Improvement coming

摘要

The second wave of the Covid-19 pandemic will derail India's economic recovery. Faster-than-anticipated economic normalisation in the March 2021 quarter - the last quarter of fiscal year 2020 - gave some momentum to India's economic recovery. However, the second wave of the pandemic, with new daily infections exceeding 450,000 at its peak in early May 2021, will derail this recovery.The new confirmed daily infections have been slowing since late May, but still stood at over 50,000 as of 21 June, while most Indian states have remained under partial lockdowns. With more than two months of widespread containment measures, new supply chain and labour market disruptions have emerged.