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Covid-19: Depleting savings, falling incomes leave millions poor in India

Many economists are cutting their forecasts for the current fiscal year as rising unemployment and dwindling savings dim the chances of a double-digit growth

Topics
Coronavirus | India economy | GDP forecast

Anirban Nag & Swansy Afonso | Bloomberg Opinion 



People sit outside Pune railway station during lockdown restrictions imposed by the state government in Pune, Maharashtra, India, on Thursday, May 6, 2021. Serum, the worlds largest vaccine maker based in Pune, will deliver 220 million doses to India
People sit outside Pune railway station during lockdown restrictions imposed by the state government in Pune, Maharashtra, India, on Thursday, May 6, 2021. Serum, the worlds largest vaccine maker based in Pune, will deliver 220 million doses to India

After dipping into his savings to weather India’s snap pandemic lockdown last March, Manoj Kumar was just getting his head above water again earning 600 rupees ($8) a day as a construction worker in the tourist hotspot of Goa.

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First Published: Sat, May 08 2021. 08:09 IST

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