(Harleen Kaur, Intern Journalist ) In the current forecast a 9 percent decline in the Indian Economy in the current financial year 2020-21. The Asian Development Scenario ( ADO)-2020update released by ADB on Tuesday said that the economic activity in India had been severely affected by the Corona Virus. This has also impacted consumer sentiment, which will cause a 9 percent drop in GDP in the current financial year However the ADB estimates that there will be a big boom in the Indian Economy in the next financial year 2021-2022.
ADB said that India’s economic growth rate will be 8 percent in the next financial year due to movement and opening of the business activities. ADB Chief Economist Yasuyuki Sawada said, “ India imposed a strict lockdown to prevent the spread of Corona. Due to this, economic activities were severely affected.
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