Indian Economy Downfall Due to Coronavirus Pandemic – Things to Know

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The whole world is suffering from the coronavirus pandemic and India is also fighting very hard against coronavirus. The economy of many developed and developing countries falling badly and the Indian economy is also going through it’s worst time but GDP growth prediction of India is still better than many European countries like Italy, Spain, Germany & France.

India’s GDP will be around 1-2% for FY 2020-21

According to many financial experts across the world, India’s growth projections could severely slide down with GDP of 1-2% or even less, which would lead to massive job losses and perhaps even social unrest, since around 30 crores people in India live below the poverty line. But the positive side of this economic fall-down is that India will go in negative GDP which is also known as the depression stage of the economy.

Indian Economy Downfall Due to Coronavirus Pandemic - Things to Know
Global economy impact due to coronavirus pandemic

Indian Economy Upcoming Days Scenario

India is going through 40 days of strict lockdown period but the possibility of increasing the production of goods and services in the coming days is very high that will help the Indian economy to recover fast. The Indian government has already allowed resuming work in the farming, medical, e-commerce, and construction sector with some advisory from 20th April 2020. If corona cases will be in control and the Indian government didn’t extend the ongoing lockdown after 3rd May then the remaining sector might start working again.

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