The next month will, therefore, be crucial in determining the trajectory of the Indian economy for the rest of the current financial year. If the second wave of Covid, indeed, begins to taper off sharply by the end of next month, then all the rosy projections of high double-digit growth will stand.
If the peak does not flatten, then policy makers and analysts alike will have to go back to their drawing boards to rechart the way out of the crisis.
The government is closely monitoring the situation and the Prime Minister himself is helming the efforts to lead India out of this health and economic crisis. The government’s sure-footed handling of the crisis last year gives hope that the current spike will also pass without too much permanent damage to the economy.