Top headlines: Govt quashes lockdown rumours; SC seeks report on migration

From projections of contraction in the Indian economy due to Covid-19 to auto firms being asked to produce ventilators, here are the top headliens of the day

Indian economy can contract 2.6%; US over 11% in worst case in 2020: Nomura

The coronavirus (Covid-19) pandemic is likely to hit the global economy, including India, hard over the next few months. With nearly 75 per cent of the Indian economy in lockdown mode, Nomura has lowered the 2020 GDP growth forecast to -0.5 per cent year-on-year (y-o-y) from 4.5 per cent. “We now expect GDP growth to slide from 4.7 per cent y-o-y in Q4 2019 to 3.1 per cent in Q1 and plunge to -6.1 per cent in Q2, when both domestic and external demand will weaken.