Coronavirus Outbreak: India’s economic growth likely to decline by 200 bps in FY21, says Yashwant Sinha
New Delhi: India’s economic growth is likely to decline by 2 percentage points in the next financial year due to the impact of coronavirus pandemic and the consequent 21-day countrywide lockdown, former finance minister Yashwant Sinha said on Friday.
Sinha said India was already facing high unemployment and the pandemic has added to the woes.
“My own estimate is that the 21-day countrywide lockdown which has been enforced, itself will result in shaving off at least 1 percentage point of GDP. And if you take earlier problems created by the coronavirus pandemic before the lockdown and the uncertainties of the future, then a 2 percentage points decline in growth rate(for 2020-21) is not unlikely at all,” he said.
Source: Firstpost
