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Household incomes in India are yet to recover from the Covid-19 lockdown shock
Even as the country ‘unlocked’ in September 2020, the Centre for Monitoring Indian Economy’s data shows that unemployment numbers rose to over 9% in December. PTI
Indian incomes were on a downward slope – and then came the pandemic.
Household incomes in rural and urban India had begun to shrink from September 2019 owing to an ongoing economic slowdown. But the steepest decline came in April 2020, according to data from the business information company Centre for Monitoring Indian Economy, which was analysed by Ashoka University’s Centre for Economic Data and Analysis.