Economic growth may fall to 2.6% in FY21 during lockdown: SBI Ecowrap

According to the report, the total cost of lockdown is at least Rs 8.03 lakh crore in nominal terms, an income loss of Rs 1.77 trillion

The country's economic growth is likely to fall sharply to 2.6 per cent in 2020-21 due to lockdown amid the coronavirus pandemic, a research report said on Thursday.

According to a report by SBI Research's Ecowrap, GDP growth for 2019-20 could also see a downward revision from 5 per cent to 4.5 per cent, with growth in the fourth quarter of the current financial year at 2.5 per cent.

"What would be impact on India's GDP because of such a lockdown?... We thus peg our 2020-21 GDP estimate at 2.6 per cent, with a clear downward bias, with first quarter of the