New Delhi: Applied lockdown across the country could result in a loss of about Rs 10 lakh crore to the Indian economy. Rating agency CRISIL has predicted this. Crisil has also cut India's GDP growth estimate a lot. CRISIL has reduced its estimate of India's economic growth for 2020-2021 by almost half to 1.8%.
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The agency has said that the economy is estimated to suffer a total loss of Rs 10 lakh crore from the lockdown to control the corona epidemic. On average, this loss will be around Rs 7,000 per person. According to news agency PTI, Crisil has said that there should be a huge increase in government cooperation. The agency had earlier projected a six percent increase in the gross domestic product (GDP) during the current financial year, which has been reduced to 3.5 percent at the end of March and now to 1.8 percent.
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Almost all rating agencies have drastically reduced the growth estimate of the Indian economy due to Corona. The International Monetary Fund (IMF) had said that India's GDP growth in the year 2020 could be around 1.9 per cent, even then it would be the fastest in the world. In fact, due to Corona, the economy of most of the countries of the world will shrink and this year the biggest recession after the Great Depression of 1930 can come.
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