The Point
The Point
A Full-blown Crisis

The devastating impact of coronavirus on the economy is becoming increasingly clear

Incremental bank credit grew just 1.8% during April-December 2019 compared to 7.7% during the same period a year ago
Prices of major food commodities have been surging
There are enough signs that India's rural sector is on the path to recovery
Demand is likely to pick up only when economic activity increases
The push for less cash and more digital is delivering in many sectors
The Centre is set to keep its expenditure at 92 per cent of the budgeted amount (lower than the budgeted amount by nearly Rs 2.2 lakh crore)
In the December 2019/20 quarter, new investments announced by the public and the private sector touched Rs 4.27 lakh crore, the highest in seven quarters

Sales in major Indian cities fell 15% from 47 million sq. ft. in October 2018 to 40 million sq. ft. in the same month of 2019
Private sector banks have installed the largest number of ATM machines in metro cities and urban areas while public sector banks have sharper focus on rural areas
Private banks' loans and advances grew 25% in 2018/19