Economy News
A dull festive season: Another pitfall for Indian economy

No demand no growth. Past few months have been dismal for Indian economy due to Covid-19 induced lockdown. The country has seen a hit on income and jobs which in turn have crippled demand for non-essential goods. A festive cheer is a must for possible resumption of demand economy. Companies are not being able to make profits out of low consumption. An ILO study suggests that more than 40 crore informal workers may get pushed into deeper poverty due to the Covid-19 pandemic. Festive season is the best time for people who work in unorganised sectors to make some money. However with the ongoing crisis among middle-income groups, the ones that make the best customers of informal workers are likely to defer the current festive purchases.

News Source:- https://economictimes.indiatimes.com/news/economy/indicators/a-dull-festive-season-another-pitfall-for-indian-economy/slideshow/78144110.cms