Government’s stringent and aggressive move of a full three-week lockdown, across the entire country to contain spread of novel coronavirus will much sharper impact on country’s GDP in the April -June quarter that what was previously anticipated, Barclays said in a research report finalised after Prime Minister Narendra Modi’s speech to the nation on Tuesday evening.
In view of the changed circumstances, the bank has shaved down its calendar year (CY) 2020 GDP forecast for India from earlier 4.5 per cent to 2.5 per cent now and FY20-21 forecast to 3.5 per cent from 5.2 per cent earlier.
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