Thursday, April 16, 2020
It looks like the Indian economy may be heading for its first full-year contraction in more than four decades after the government extended the lockdown to contain the coronavirus.
The lengthening of the mandatory stay-at-home period to 40 days from 21 days will result in a direct output loss of more than 8 percent over that time, according to experts.
Decline in GDP for the year to March 2021 of 0.4 percent and 0.1 percent, respectively is predicted by the expert. The economy had last contracted in 1980 when GDP shrank 5.2 percent.
