Economic dislocation

FY21 will be a difficult year for all stakeholders

Fiscal 2020-21, which starts today, is likely to be one of the most difficult years in recent decades. Along with the rest of the world, India is engaged in containing the spread of Covid-19, which will entail severe economic implications, although it is difficult to gauge the extent of the damage at this stage. Even if the lockdown ends as scheduled, recovery in economic activity will take time. The fact that the global economy is slipping into a sharp recession will only make things difficult for India. Since these are still early days and economists are in the process of