Lockdown will hit India's economy by $ 1.1 billion

New delhi date. 25. March, 2020 Wednesday

International bank Barclays Bank estimates that a nationwide lockdown will hurt India's economy by $ 120 billion.

According to the Bank's report, given the changing conditions, India's growth rate will be only 2.5 percent in the calendar year 2020, which was earlier projected to remain at 4.5 percent.

However, growth rates are expected next year. Barclays estimates 8.2% growth in GDP for the calendar year 2021 and 8% growth for FY 2021-22.

According to the report, the lockdown will hurt India's economy by as much as $ 120 billion, which is four per cent of GDP.