PM Modi is likely to extend the lockdown when he addresses the nation on Sunday as there is little indication of the virus being contained. However, restrictions are set to be eased significantly, continuing the trend since the start of May. A premature lifting of restrictions increases the probability of policymakers having to slam on the brakes and reimpose more stringent containment measures over the coming months, meaning the recovery could be even slower and more fitful than we are expecting.
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