Categories: Business

Covid-19 could be a threat to Indian economy, to control the crisis, then lockdown

Photo: GOOGLE

Continued spread of Covid-19 poses risk to Indian economy, says IMF

Washington The International Monetary Fund (IMF) believes that the continued spread of Kovid-19 infection poses the greatest threat to India's growth forecasts. A top IMF official said on Tuesday that this health crisis in India is not yet under control. The IMF said that the global and domestic front, on the global and domestic front, and uncertainty about the corona virus, are at risk in the near future growth rate scenario of India.

The IMF recently estimated in its report that the Indian economy will decline by 4.5 percent in 2020. Chang Yung Ri, director of the Asia and Pacific Department of the IMF, said the biggest risk to the Indian economy is the continued proliferation of Kovid-19, as it has not yet come under health crisis control. In addition, additional lockdown may be required to control the epidemic.

Concerns about the virus may erode consumer confidence and delay economic recovery. He said that the economic impact of Kovid-19 is remarkable and widespread. Indicators such as industrial production, business sentiment (such as the Purchasing Managers' Index), vehicle sales and trade show that economic activity is declining.

Ri said that the main reason for the projected decline in the growth rate of Indian economy in 2020-21 is the rising cases of Kovid-19. He said that the future scenario of the Indian economy was clouded by global and domestic lethargy and the Corona virus. He said data for the first quarter of 2020 (January-March) GDP growth rate showed that both manufacturing and construction sectors declined compared to the previous year.

This post was published on July 1, 2020 1:44 pm

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…