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Dipping graph of India's despair

Multiple surveys show the economy tipping over, yet places you and me in a peculiar saviour mode: if you have a job and are getting a salary, spending it will help keep the economy afloat. So, go order that pizza. Now!

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Consumption never had a greater social value than it has now. Diversify your consumption basket and sources of purchase, for then you will help more peopleu00c3u0083u00c2u0082u00c3u0082u00c2u00a0

Consumption never had a greater social value than it has now. Diversify your consumption basket and sources of purchase, for then you will help more peopleu00c3u0083u00c2u0082u00c3u0082u00c2u00a0

Ajaz AshrafWhen the Reserve Bank of India governor Shantikanta Das painted a cheery picture of our economy last week, you would have known from your experience that his optimism was not anchored in reality. You too had, in the initial days of the lockdown, rejoiced at the chirping of birds and the twinkling of stars in the clear night sky. But now you no longer marvel at the nature's bounty, for you are in thrall to the images your imagination weaves — you out of a job, with bills to pay. Perhaps time to cut expenses.

But then, like Das, you try to be positive and order pizzas online for the family. You are, quite incredibly, relieved to hear the order cannot be delivered tonight. And because you have become an emotional yo-yo, it might help you to know that many other Indians are also in a state of despair. Don't believe it? You should pore over the surveys by the Centre for Monitoring Indian Economy (CMIE) that measure, week after week, what is called consumer sentiment, which has five elements.

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