The Asian Development Bank (ADB) has forecast a nine percent decline in the Indian economy in the current financial year 2020-21. In the Asian Development Scenario (ADO) -2020 update released by ADB on Tuesday, it has been said that due to Corona virus in India, economic activities have been badly affected. This has also impacted consumer sentiment, which will cause a nine percent drop in gross domestic product (GDP) in the current financial year. Also Read – Coronavirus Vaccine: China Made Corona Vaccine? Will be released to general public in november
However, the ADB estimates that there will be a big boom in the Indian economy in the next financial year 2021-22. ADB said that India’s economic growth rate will be 8 percent in the next financial year due to the opening of traffic and business activities. Also Read – To speed up the economy in the Corona era, will the Modi government raise 1 lakh crore by selling the properties of the people who went to Pakistan after Partition?
ADB chief economist Yasuyuki Sawada said, “India imposed a strict lockdown to stop the spread of the epidemic.” Economic activities were severely affected by this. ” Also Read – Coronavirus Update: More than 80,000 people lost their lives due to corona in the country, more than 49 lakh people infected
He said, “The expansion of capacity to control, investigate, monitor and treat the epidemic is crucial for the growth of the economy in the next financial year and beyond. These measures need to be implemented effectively, only then will the economy recover. “