‘India to witness K-shaped recovery as demand hit’

Bloomberg

The Indian economy’s recovery is likely to be shaped like a K rather than a V, as rising inequality is poised to hit consumption and growth prospects, the country’s former central bank governor said.
“An important consequence of the pandemic has been the sharpening of inequalities,” Duvvuri Subbarao said. “Growing inequalities are not just a moral issue. They can erode consumption and hurt our long-term growth prospects.”
India’s GDP is forecast to grow by as much as 12.5% in current fiscal year which would make it the world’s fastest growing major economy.