While the economy’s slump can be explained through losses in income and employment, consumer confidence is something that would pose a greater challenge to recovery.
The death toll due to the disease in the country increased to 1,66,862, with 685 new fatalities being reported in a day.
Policymakers will continue to support economic activity long after the pandemic has faded, in some cases for years, Moody's said.
With high credit costs continuing to suppress their profitability, the banks' capital buffers will remain insufficient.
It said the revival of the reform agenda is among the Indian government's policy responses to the COVID-19 pandemic shock.
It can be noted that there has been a slew of reports lately about a stronger recovery being underway after the jolt caused by the pandemic.
History has recorded the unprecedented influenza pandemic during 1918-20 with 12 million deaths.
It was a year of survival for the real estate sector which was struggling to come to terms after the 2015 floods.
Various sectors of manufacturing recorded an improvement in demand and volumes in the September quarter although the performance was admittedly uneven.
Ameer Ahmed, 28, earned a decent salary as a receptionist at a Bengaluru hotel. He had no criminal history. But Covid changed all that. He lost his job and couldn’t find another.
Andhra Pradesh Chambers of commerce and Industry Federation meet Industry minister Goutham Reddy for industrial incentives
The members also said that trade and industry across the State was affected due to the global economic slowdown.
The Union Minister of Electronics and Information Technology stated that the government's policy interventions have made India an investor-friendly place.
Her attack comes after the GDP growth fell to 5 per cent for the quarter ending June, the lowest reported in over six years.
In a statement, the former PM said the last quarter GDP growth rate of 5 per cent signals that 'we are in midst of a prolonged slowdown'.
What led to the slowdown? Worryingly, six out of the eight broad indicators used in GDP measurement sulked in June quarter over last year with manufacturing witnessing the lowest growth at 0.6%.