Ramaswami: The future looks dire for India’s economy. The unemployment rate has hit 26%, according to the Centre for Monitoring Indian Economy. Many analysts are now expecting the country’s growth rate to become negative, meaning the economy is contracting for the first time in four decades. An industry body’s survey found that more than 70% of companies expected to cut jobs and more than 50% were likely to cut salaries. Even as authorities around the country struggle to deal with the virus itself, with 19,984 cases and 640 deaths as of Wednesday morning, the 40-day lockdown forced the bulk of India’s businesses to suspend their activities. The haphazard, violent implementation of the restrictions has meant that even the companies deemed to provide essential services have had a tough time operating in this environment.