A recent Barclays Report, reducing India’s GDP growth forecast to 0% for the calendar year 2020, from its earlier projection of 2.5% just three weeks ago, on 24 March 2020, heightens anxieties and slashes ‘confidence’ in these covid-19 times.
This report, like others of its ilk, fails to assess the true nature of the disruption, and thus, provides inaccurate estimates of the covid-19 impact.
Barclays’ domestic economy-centric report refers to an increase in precautionary savings and large job losses as factors weighing down on growth, while making only a passing mention of weak global demand.
In doing so, it fails to consider and analyse the pandemic as a global phenomenon, with significant ‘across economy’ network effects in addition to