Question

Corona virus outbreak have a long term impact on India economic​

Answer 1

Answer:

Hello mate..

Explanation:

In an evolving crisis, when no one is able to say for sure when it will be contained and what its long-term impact could be, the stress will be placed unequally on the individual and society, and on the government. And the structural risk, which affects everyone, is as economic as it is biological.

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Answer 2

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India’s economic growth could take a hit of up to half a percentage point in FY21 because of the disruptions caused by the Covid-19 outbreak, early estimates by the government suggest. But independent economists see a deeper cut of up to one percentage point.

“There will be a hit of 0.3-0.5% on the GDP in the next fiscal year,” said one of the officials aware of the estimate.

"Growth in the first two quarters of the next fiscal could be as low as 4-4.5%,” another official added.

The economy is forecast to grow 5% in current fiscal, the slowest in 11 years. The Economic Survey had forecast 6-6.5% rise in FY21, but Covid-19 has hurt recovery prospects.

Sectors such as tourism, aviation, hospitality and trade will face the first brunt of the severe travel, assembly and activity curbs imposed by the governments across the world, followed by a wider impact on other sectors as economic activity stalls.

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