Covid-19 will have a bigger impact on the economy than previously expected

Impact on the economy would be heavier than estimated

India’s daily Covid-19 infection count continues to increase with no clear sign of stabilisation. The country crossed the 4 million infection mark last week and reported over a record 90,000 cases on Sunday. It now has over 12 per cent of all active cases in the world and accounts for about 8 per cent of all deaths. India is expected to overtake Brazil anytime now to become the country with the second-largest number of cases. Although the death toll compared to the population is still low, the numbers in absolute terms were unimaginable five months ago, and will get worse