New Delhi, Apr 12, 2020, Sunday
The economy of the world is badly in the middle of the corona virus. The World Bank has said that the economy of India has been hit by the epidemic of Corona virus. This will greatly reduce the country's growth rate.
India's growth rate will be five per cent in 2019-20, the World Bank said in its report. However, in 2020-21 it will be drastically reduced and growth rate will fall to 2.8%.
The report says that this setback has come at a time when India's economy is already sluggish. Lockdown is now implemented in them. Which has affected the supply chain.
Not only India but the global level will also affect domestic investment due to the impact of Corona. According to the World Bank, if Corona's influence is to end in 2021-22, India's economy will be able to achieve a growth rate of five per cent. The government also has to provide financial support. The lookout for India is not looking good. If the lockdown goes on long, the economic consequences will be worse than the World Bank predicted.
According to the World Bank's chief economist Hays Timmer, India must first stop the spread of corona. There will need to be start-up programs, especially locally.
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