Categories: Business

GDP growth might hit lowest since 1947 says narayan murthi

Photo: PTI

Impact of corona crisis

new Delhi. Infosys founder NR Narayana Murthy on Tuesday feared that the country's economic momentum would be in the worst state since independence due to the corona virus. He said that the economy should be brought back on track at the earliest. He feared that this time the gross domestic product (GDP) could see the biggest decline since independence. Narayana Murthy also stressed on developing such a new system in which every businessman in every sector of the country's economy is allowed to work with full potential. Murthy said, "At least five percent contraction in India's GDP is being projected. It is feared that we may see the worst GDP figures since independence of 1947. "Murthy, who has a large identity in the software sector, was participating in a discussion on" Leading India's Digital Revolution ". The discussion, through video conferencing, was organized under the 16th edition of the India Digital Conventions of the Institute of Engineering and Technology.

Narayan Murthy said, "Global GDP has gone down. Global trade is sinking, global travel has almost disappeared. In such a scenario, the global GDP is expected to fall by five to 10 percent. ”Murthy said that from the very first day of the national lockdown, he has been of the view that people are ready to live with the corona virus Will have to happen. There are three reasons for this – there is no medicine, there is no cure for corona virus and the economy cannot be stopped. The first potential vaccine for this pandemic is expected to come from Oxford University. This vaccine will be available in the country within six to nine months. Murthy said, "Even if we vaccinate one crore people every day, it will still take 140 days for all Indians to be vaccinated. This is a long period to stop the spread of these diseases. "

The technology expert said, "In such a situation, we cannot shut down the economy." In all, 140 million employees have been affected by the virus. That is why it makes sense to define a new normal situation. ”Narayana Murthy insisted on developing a new system to deal with the current situation. He said that in the event of vaccine preparation, a health structure should be created for every person to vaccinate. Along with this, work should also be done towards the treatment of new virus.

This post was published on August 11, 2020 7:55 pm

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