There are varying estimates of the effects of Omicron on the gross domestic product (GDP) growth in the fourth quarter of the current financial year. The estimates by some economists are in the 20-40 basis point range, while others say it is difficult to quantify the impact because of the developing situation.

       Let us try to estimate the damage through the monetary policy committee (MPC) of RBI lens, or in other words, its growth projections at various times during the current financial year. At the start of the year, the MPC was somewhat optimistic about the Indian economy, ...