"What would be the impact of Coronavirus pandemic lockdown on the economy of India and the world." write a paragraph on this . about 100 to 120 words
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Answer:
coronavirus pandemic in India has been hugely disruptive. World Bank and credit rating agencies have downgraded India's growth for fiscal year 2021 with the lowest figures India has seen in three decades since India's economic liberalization in the 1990s.[1][2] The former Chief Economic Advisor to the Government of India has said that India should prepare for a negative growth rate in FY21 and that the country would need a ₹70 lakh crore (US$980 billion) stimulus to overcome the contraction.[3] However, the International Monetary Fund projection for India for the Financial Year 2021-22 of 1.9% GDP growth is the highest among G-20 nations.[4] Within a month unemployment rose from 6.7% on 15 March to 26% on 19 April.[5] During the lockdown, an estimated 140 million (140 million) people lost employment.[5] More than 45% of households across the nation have reported an income drop as compared to the previous year.[6]
Answer:
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