Second COVID-19 wave humanitarian crisis, not economic one: Nomura
Nomura said it expects the overall hit to sequential growth in April-June to be much less severe than last year when there was a complete nationwide lockdown, and less than what the drop in mobility suggests
PTI | May 20, 2021 | Updated 16:00 IST
The second wave of the pandemic in India is more of a humanitarian crisis rather than an economic one, and is likely to have peaked, a Japanese brokerage said on Thursday.
Nomura said it expects the overall hit to sequential growth in April-June to be much less severe than last year when there was a complete nationwide lockdown, and less than what the drop in mobility suggests. It estimated the economy to contract by only 3.8 per cent in June quarter as compared with March quarter.