Due to the Coronavirus , the nationwide lockdown would cost the economy about $ 120 billion. Not only this, due to this the growth rate of Indian economy will also decrease. Barclays Bank has calculated this in a research report.
This report, prepared after Prime Minister Narendra Modi's message to the nation on Tuesday evening, said that in view of the changed circumstances, the growth rate of the Indian economy during the calendar year 2020 will be just 2.5 percent as compared to the earlier estimate of 4.5 percent. Was. With this, the growth forecast for the FY 2020–21 has been reduced from 5.2 per cent to 3.5 per cent.
While the growth rate may have declined in the current year, it is projected to increase in the next year. Barclays has projected an increase of 8.2 per cent in GDP or GDP for calendar year 2021 as compared to 8.0 per cent for FY 2021–22. Losses from the lockdown The report states that the lockdown will cause a loss of about $ 120 billion to the Indian economy, which is four percent of GDP. Of this, the loss of $ 90 billion would be due to extending the lockdown period. Obviously, it will also have an impact on the growth rate of GDP.