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23 Apr 2020

Will India Enter Worst Recession In 40 Years

According to the latest survey done by Axis Bank about the Indian economy.  It is estimated that India may see the worst reccession in 40 years in the year 2021.

According to the survey is the GDP of the country is worst hit and it may touch 1.7%.  This will be the worst scenario as this will affect the development of the country and the growth of people.

The extended lockdown will see a steep decline in the field of manufacture, trade transport and communication.

The only areas which will remain tentatively unaffected by this slowdown will be agriculture, little areas of finance and business and public administration.

However the IMF have foreseen India's growth and had said that India will have a little impact on the economy and will flourish but if the lockdown extends the picture may vary.

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