Krishnamurthy Subramanian: ‘Poor impacted more than rich… We must keep pandemic year as signpost to remind why growth is key for economy’
The second key aspect of the second wave is that the decline has been as sharp as the rise itself. As a result, in April, 30% of GDP by geography was impacted but even there, essentials and inter-state trade was not impacted. Similarly, in the month of May, close to 60% of GDP geographically was impacted, but again, essentials and inter-state activities were not impacted. If you were to factor in the unorganised sector, the growth numbers are likely to be much lower and weaker. The biggest spurt is in gold loan growth.
Source: Indian Express July 04, 2021 21:16 UTC
