Lockdown 3.0: What next for the Indian economy and the stock markets?

Major industrial hubs like Delhi, Mumbai, Ahmedabad, Pune remain in the red zone, and hence, the relaxations given in lockdown extension may not make any material impact on the slowing economic growth

With the continuing increase in the number of confirmed cases in India, albeit at a slower exponential pace, it was expected that the lockdown that was ending on May 03 was likely to be extended. The earning population, however, was looking forward to such relaxations that they would be able to work/earn and that their employers/suppliers would face much lesser difficulties in soon clawing back to the pre-lockdown capacities.

The bifurcation of the country into three zones with different levels of restrictions applicable to these categories has had mixed reactions. People in the green zone are happy with most relaxations,