Subdued sentiments threaten recovery

The index of consumer sentiments fell by 1.5 per cent in June 2021 after having fallen by 10.8 per cent in May and 3.8 per cent in April 2021

After two gruelling months under the shadow of the second wave of Covid-19, India made substantial progress in June 2021. The unemployment rate fell and the employment rate rose compared to the levels of May 2021. Covid-19 infections and deaths dropped perceptibly, six million salaried jobs came back, foreign portfolio investors returned to pour in USD 1.5 billion into the Indian equity markets and the stock markets continued to scale up new stratospheric levels. Tax collections improved and the finance minister announced measures to battle consequences of the second wave of Covid-19. But, the Indian consumer remained resolutely unimpressed.

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