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Covid-19 economic impact to be much greater than assessed earlier

Large-scale contraction across sectors in April; which way the GDP will go depends largely on how long the lockdown stays

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Coronavirus | GDP of India | Lockdown

Indivjal Dhasmana  |  New Delhi 

The latest macro data suggests a much deeper impact of Covid-19 on the economy than was previously expected. Merchandise exports contracted by 34.5 per cent in March, the steepest monthly fall in at least 25 years, as overseas demand remained lacklustre.

Exports stood at just $21.4 billion in March, as a massive broad-based decline plagued all major foreign exchange-earning sectors. With trade demand remaining soft during earlier months, the country's annual exports stood at a dismal $314 billion in 2019-20, or five per cent lower than the $331 billion worth of shipments in the ...

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First Published: Wed, May 06 2020. 13:59 IST
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