Microcredit crucial for low income households dealing with Covid-19 blow

Over 90 per cent of low-income households are employed in the informal sector, and they will be the hardest hit by the pandemic

We are confronted with unprecedented challenges and uncertainty posed by the Covid-19 pandemic and its impact on our lives — or deaths, for many. Besides the public health emergency, this is the economic tsunami of the highest order, with no end-date in sight yet. Surely, demands from large and visible sectors would be most vociferous, impact more quantifiable and redressal relatively easier to deliver. However, it is the invisible low-income households (LIH), who would be hardest hit and deserve most support. Given the demands on the already stretched resources, our immediate policy response should be to prioritise the needs of