New Delhi: The Lockheed economy, announced by the central government to deal with the Karona epidemic, has paralyzed the economy. The economy has stalled due to strong strikes in Lucknow. This is clearly reflected in the growth data of the first three months (April-June) of the current fiscal year released by the government today. Growth slowed to 23.6 percent in the three months. This is said to be the worst economic scenario since the government launched the process of releasing GDP data on the 18th.
Millions of people have lost their livelihoods and lost their livelihoods during the shutdown. The Indian economy is expected to be in a deep slump as the growth rate slows by 23.6 per cent. As the corona infection continues, its effects will continue. If there is a major slowdown in growth for six consecutive months, it is considered to be in the throes of a slowdown. The growth rate of the financial services sector has slowed by 5.3 percent compared to April-June last year. The growth rate of manufacturing and construction fell by 38.3 percent. The only good news at this point is that the growth rate of the agricultural sector has grown by 3.6 percent. The Department of Statistics says the various cuts imposed on the corona are slowly being lifted. This has had an impact on economic activity. Data collection for GDP calculations has also been severely affected. In particular, there are problems with production and consumer inflation in industrial plants. Therefore, the GDP data released is likely to be revised in the coming days, the office said. As the government declared lockdowns across the country on March 25, thousands of people lost their livelihoods and were forced to stay indoors. “It simply came to our notice then. The engine of the economy has been completely shut down and efforts are now underway to re-launch it. He hopes the economy will improve rapidly. But economists say inflation is rising as government spending has been affected by the rise in corona infections. They estimate that by 2020-21, the growth rate will be 10 percent. Prime Minister Narendra Modi has announced a Rs 20 lakh crore package to strengthen the economy affected by Lockdown. The package includes benefits such as emergency credit assistance to the poor and migrant workers, from free food grains to MS4MEs. Despite this, the demand for various goods has not increased, while manufacturing has not improved. The Karona epidemic has hit hard at the government’s goal of turning the country into a $ 5 trillion by 2024. Doubts have been raised about achieving this goal.
