Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight

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News: According to Economists, Indian economy is heading for a K-shaped recovery.

Facts:

  • K-shaped Recovery: It occurs when an economy recovers unevenly and there’s a separate trajectory for two segments of the society. 
  • Examples:
    • Industries like technology, retail, and software services have recovered while the travel, entertainment, hospitality, and food services industries have continued to decline.
    • India’s stock market is healthy while millions have lost their jobs and private consumption has collapsed.