Is South India headed for a Crisis?
South India appears to be headed for a Crisis!
Between 2012 and 2020, Southern Economies have powered the Indian economy on numerous fronts with most Southern States overtaking both Maharashtra and Gujarat on per capita GDP. The party is coming to an end
Corona Crisis Smashes South India
Until 2-3 weeks ago, Tamil Nadu was the only state in the South struggling to manage the crisis. This has changed in the last two week
- The 5 states in the South added nearly 9000 cases (40% of all cases) yesterday. Two weeks ago, it was 4400 cases per day.
- As a consequence, Telangana and Karnataka which were ranked quite low are likely to be in the Top 5 in the next one week, TN is already there
- Not just that, out of the 473 who died in India yesterday, 111 or 23% came from South India. Two weeks ago, this was 54 out of 312 or 17%.
Corona has begun to engulf the economies in the South
- Yesterday in our analysis we showed how the House rent market in South India was being hurt badly by the Crisis
- CMIE Unemployment data shows all India Unemployment was at 9.5%. However for the South, it is as follows
- Tamil Nadu: 14%
- Telangana: 16%
- Kerala: 20%
- Karnataka: 9%
- Andhra: 2%
These 5 States now have anywhere between 2 to 4 weeks to control the Corona crisis, post that most of 2020-21 could end up being a write off.
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PC: Indian Express