India sees economy breakdown due to corona extension

Indian economy is going down in four decades due to lockdown. On that, our Prime minister Narendra Modi has extended the lockdown period due to coronavirus outbreak.

As per Nomura Holding company’s Sonal Varma told that they have made mandatory to stay at home, and it has increased from21 days to 40 days, and the result is lost more than 8%.

The Societe of General GSC Pvt, Verma, said that they are predicting the GDP of this year 0.4%, and this has started from March. As per GDP shrank, this economy had last contracted in 1980, and that time, it was 5.2%.

Varma also told that there would be the chances of indirect effect after lockdown as persistence of the public fear. As per report, Varma can not predict anything wrong, so there are the chance that all are 90% correct. There will be some other effects like the unorganized workforce, the stress in the bank and corporate sector, heavyweight for growth, etc.

Currently, consumer sentiment is in the lowest level from 2015, as soon as lockdown has announced on 24th March the Indian Economy has gone down.

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