New Delhi: The outbreak of Corona is going to give a big blow to India's economy. Global brokerage firm Goldman Sachs has given a serious warning that due to the havoc and lockdown of Corona, the country's GDP growth rate will be only 1.6 per cent in this financial year i.e. 2020-21. This directly means that in terms of economic progress, the country will slip back several decades.
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Goldman Sachs has made a big cut in its earlier estimate. Earlier he had estimated that India's economy will grow by 3.3 percent in this financial year. According to the company, in the year 2020, there will be a rise of -6.2 percent in the US, that is, there will be a decline of this much. The brokerage firm says that this increase is much lower than the ratio of 70,80 and the slowdown seen in the decade of 2009. It is noteworthy that since March 25, there is a complete lockdown in India and due to this the entire business and industry has come to a standstill.
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However, the brokerage firm has also said that the economy could improve well in the second half of this financial year. Goldman Sachs has said in its report, 'We hope that the Reserve Bank of India (RBI) will continue to soften its monetary policy and will also keep taking measures to add cash to the system. However, if the country-world does not get success in controlling the epidemic in the next few months, then the pace of the economy will be improved and delayed.
