The economic impact of a V-shaped second wave of the pandemic is worrying as Covid-19, till now considered to be an urban phenomenon, is closing in on rural India. The share of rural districts in new cases in April was 30 per cent, up from 21 per cent in March, a Crisil research report has said.

The impact of state-announced curbs is being felt across high-frequency indicators, including retail and workplace
mobility, power supply, GST e-way bill collection and power supply, which are trending down for the second consecutive week now.