Effect of Covid 19 on india economy?
please answer
Answers
Answer:
The Indian economy was expected to lose over ₹32,000 crore (US$4.5 billion) every day during the first 21-days of complete lockdown, which was declared following the coronavirus outbreak. Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional.
Cause: COVID-19 pandemic-induced market instability and lockdown
Total Economic Stimulus: ₹29.87 lakh crore (US$420 billion); (uptil 31 October 2020)
Impact: Largest GDP contraction ever
The Indian economy was expected to lose over ₹32,000 crore (US$4.5 billion) every day during the first 21-days of complete lockdown, which was declared following the coronavirus outbreak. Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional.