Corona could lead to a 26 percent drop in GDP

- Concerns expressed by top economists

- The government will have to take drastic measures

New delhi date. Wednesday 19 August 2020

Top economists in the country have expressed doubts that the complete lockdown imposed by Corona could lead to a 26 per cent drop in GDP in the current financial year. The government will have to take drastic measures to offset the declining GDP. To boost the economy, the government will have to take drastic measures without interfering with the politics of the vote.

Nomura, India Ratings, SBI's research division, DBS Bank, IDFC First Bank, Barclays, HDFC Bank, CARE Ratings, ICRA, NCAER, among others. Is loose due to tight loops. The Corona and the complete lockdown caused tremendous damage to the gross domestic product. The economy was also weakened by this. GDP could fall by as much as 26 percent this fiscal year.

Generally, any government thinks a hundred times before taking steps that offend the people and the voters. Bihar and then West Bengal Assembly elections are imminent.

At the same time, the corona virus is still spreading in some parts of the country. Economists also understand the fact that keeping the economy afloat at such a time is like a huge challenge. But their collective opinion was that the government would have to take drastic action. Without it, the economy cannot sit still.

At present, on the one hand, there is the corona virus and on the other hand, due to the workers who have returned to their hometowns due to the virus, the industrial units are not able to produce one hundred percent. The trading industry has cooled. Under those circumstances, GDP may decline.