Covid-19 may permanently erode 4% of India's GDP: Crisil

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Covid-19 may permanently erode 4% of India's GDP: Crisil

Apr 30, 2020 17:02 IST

According to Crisil Research, the ongoing economic disruption due to Covid-19 is likely to result in a permanent loss of 4% of gross domestic product for India. The report added that the GDP growth may go towards zero in 2020-21 if the lockdown is extended. The economy is unlikely to recover for the next three years, noted DK Joshi, Chief Economist at Crisil. Terming the current ₹1.7 lakh crore fiscal stimulus 'inadequate', Joshi said that fiscal measures could end up requiring about ₹3.5 lakh crore in funds.

Economy