The poorest have been hit the hardest, the Reserve Bank of India (RBI) says in its latest annual report, referring to the aftermath of Covid-19 pandemic and acknowledging a fact which policy makers and politicians rarely do.
The central bank has also spoken of the dire situation the Indian economy continues to be in, the policy response so far from the government and how the bank has responded with monetary measures to counter the economic shock.
There is acknowledgement of the near reversal of economic gains made in May and June, when the nationwide lockdown was gradually lifted. In the subsequent months of July and August, as states imposed staggered lockdowns.
But not all pre-pandemic livelihoods are available and job losses are not confined to the unorganised sector alone, The salaried have also faced widespread income disruption.