This is a very serious matter for a population of our size,” Mr. Vyas said. 90% of families have seen income shrinkage (i.e., real income, adjusted for inflation).”Separately, RBI officials have flagged a ‘demand shock’ from the COVID-19 second wave. “Real economy indicators moderated through April-May 2021.The biggest toll... is in terms of a demand shock – loss of mobility, discretionary spending and employment,” they said in the monthly bulletin on Monday. “We can’t depend on exports,” Mr. Vyas said. Mr. Vyas also pointed out that every time the economy faced a shock, women in the labour force were the most affected.

Source: The Hindu May 17, 2021 16:36 UTC