Even by March 2022 Economy Will Be Below Pre-Pandemic Level, Government Must 'Spend, Spend, Spend'

In a 33-minute interview with Karan Thapar for The Wire, Mr Vyas gave details of the collapse in consumer sentiment and a sharp rise in unemployment. He said since the last week of March consumer sentiment has fallen by 15%. This, in turn, must be viewed against the background of what has happened to consumer sentiment since April 2020. In that month it was 57% lower than 2019-20. In April 2021 it was still 49% lower than 2019-20. Therefore, consumer sentiment has not really recovered since the start of the pandemic but, in fact, sizeably fallen further.

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