Covid-19 impact: Economic growth may fall to 1.1% in FY21, says SBI report

According to the SBI Ecowrap report, the extension of the lockdown would result in economic loss of Rs 21.1 trillion or 6 per cent of the nominal GVA

India's GDP growth may slide to 1.1 per cent in the current financial year, on account of the impact of coronavirus outbreak on the economy, a research report by SBI said on Thursday.

The economic growth rate during 2019-20 is estimated to come down to 4.1 per cent from 5 per cent projected by several agencies before the outbreak of deadly virus, which affected more than 2 million people around the world and took lives of over 130,000 people.

According to the SBI Ecowrap report, the extension of the lockdown would result in economic loss of Rs 21.1 trillion