Coronavirus crisis: HSBC report warns 5.4% drop in GVA, fiscal deficit hitting 10%
Partial opening of the economy would boost agriculture, (mostly rural) manufacturing, select construction and goods trade due to factors like postponed consumption; inventory restocking demand, and general growth buoyancy India tends to display, says HSBC
- Apr 23, 2020,
- Updated Jun 5, 2020 11:26 AM IST
HSBC Global Search in its latest report has said a month of lockdown could cost India 5.4 per cent of gross value added (GVA). GVA is value of the total output, excluding intermediate consumption. The report said 50 per cent of the economy would be impacted due to a partial lockdown in contrast to 65 per cent in case of full lockdown.
The second phase of lockdown can be considered partial since the government allowed operations to resume in several key industries. The first phase was a full lockdown. The first phase of the lockdown was started on March 25 and ended on April 14. The second phase started on April 15 will now go on till May 3.
The partial opening of the economy would boost agriculture, (mostly rural) manufacturing, select construction and goods trade due to factors like postponed consumption; inventory restocking demand, and general growth buoyancy India tends to display, it added.
HSBC Global Search in its latest report has said a month of lockdown could cost India 5.4 per cent of gross value added (GVA). GVA is value of the total output, excluding intermediate consumption. The report said 50 per cent of the economy would be impacted due to a partial lockdown in contrast to 65 per cent in case of full lockdown.
The second phase of lockdown can be considered partial since the government allowed operations to resume in several key industries. The first phase was a full lockdown. The first phase of the lockdown was started on March 25 and ended on April 14. The second phase started on April 15 will now go on till May 3.
The partial opening of the economy would boost agriculture, (mostly rural) manufacturing, select construction and goods trade due to factors like postponed consumption; inventory restocking demand, and general growth buoyancy India tends to display, it added.