The coronavirus pandemic hit India at a time when the economy was slowing down due to the aftereffects of demonetisation, goods and services tax (GST) rollout, crisis in the non-bank financial companies (NBFCs), and other factors.
Analysts say the situation has the potential to impair the purchasing power and dent demand. The pandemic will not only hit purses, but also the psychology of a generation and how it spends. The impact is already visible across geographies and financial markets, with experts slashing their growth projections as measured by gross domestic product (GDP).
Goldman Sachs, for instance, expects the global economy

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