With the pandemic caseload remaining over 2.5 lakh for the second day, a report has warned of the grim economic scenario as with even limited restrictions on people’s movement and some businesses, power consumption and e-way GST bill collections are already down.
The report has also called for speeding up the vaccination drive that of late has been on the decline on a weekly basis.
With cases spreading very fast, more and more states are clamping down more localised restrictions on people movement and commerce, falling just short of a complete lockdown.
This already has electricity consumption and GST e-way bills collection, which are used as proxies to track economic activity, softening somewhat and it needs to be seen whether this softening is a blip, or marks a shift in a trend, Crisil said in a note on Tuesday.