city New Delhi India covid-19 outbreak 2020 Government city New Delhi India

Barclays cuts GDP forecast for India to zero for 2020

Reading now: 917
www.livemint.com

NEW DELHI: As India extended the nationwide lockdown till 3 May to combat the covid-19 outbreak, Barclays cut its growth forecast for the country to 0% for calendar year 2020 from its earlier projection of 2.5%, holding that the economic fallout will be worse than it had earlier estimated. “While India’s COVID outbreak has not officially reached the community transmission stage, we believe the existing restrictions on movement are causing much more economic damage than anticipated.

Despite being characterised as essential sectors, the negative impact of the shutdown measures on the mining, agriculture, manufacturing and utility sectors appears higher than we had expected," it said in a report.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA