The new wave of Covid-19 outbreak could deal a major blow to the Indian economy’s prospects.After witnessing its worst phase in four decades during the first wave of Covid-19 last year, the Indian economy had just started to find its feet this year. Several experts and rating agencies had predicted a quick economic turnaround for the country, however, these estimates had not taken into account the possibility of a fresh pandemic wave.Currently, India is witnessing around 58,000 new cases on average daily compared to 16,000 in January. In the past 24 hours, around 72,000 new Covid-19 infections were detected—the highest in the last six months. This fresh wave could lead to government-imposed
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