New Delhi: The Indian economy is expected to suffer a loss of Rs 3 million crore from the effects of the Karona crisis, according to the rating agency Crisil. India’s growth will slow by 7 percent. After 1950, India will go through its worst period. A few months ago, Krisil said India’s growth would slow by 5 percent due to the effects of the Karona epidemic. “The government is not providing any direct financial assistance to curb the economic downturn while the corona infection continues,” he said.
According to its report, “Minus Nine Nao” (now minus nine), the Indian economy will grow rapidly in the next fiscal year (2021-22) and will grow at a rate of 10 percent. However, in the second half of the current fiscal year (2020-21), the economy is expected to shrink by 12 percent. We will have to wait until at least 2022 to return to where India was in 2019-20. After that, the country will grow at an average annual rate of 6.2 percent by 2025. India needs to achieve a 13 per cent growth rate over the next three years to return to its former status quo, which is nothing short of spectacular. India has not achieved such high growth to date. Due to the normal monsoon rains, only 2.5 per cent of the agricultural sector will see a positive growth. Excluding this, growth in all other sectors will slow. “Sales of tractors and two-wheelers are on the rise,” he said.
