The economic impact of the coronavirus has been largely disruptive. Especially, India’s economic recovery is still
facile. The rising of coronavirus and the upcoming lockdown dent the GDP by 2% says the American Brokerage. Gross Domestic Product (GDP) is considered a good measure for an
economy. Gross Domestic Product tracks the healthiness of a country’s economy. There are no words to explain how the economy has gone through the impact of the coronavirus pandemic since last year. There has been a severe negative impact of the country’s economy
A national lockdown can have a deep impact on the progress of growth.
As BofA securities analyzed, they have reported that there is an increase in the number of infections six times as it was before and the Indian State Governments have responded to declare a restricted lockdown as of now.
They have also reported that, in the year 2020 when the coronavirus has started impacting, it took more than three to five months for the cases to rise from 10,000 to 90,000 levels in the mid of September. But now, it has taken
only six weeks to attain these levels.
The country was kept under lockdown to reduce the spread of covid-19 in the last year which was the primary reason in the reduction in the value of GDP.
Now, the analysts expect double-digit GDP growth in the next financial year that is 2022.
