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The stringent mobility curbs and lockdowns put across key Indian cities will dent the economic momentum and will result in an economic loss of Rs 1.5 trillion, suggests a report by the economic wing of State Bank of India (SBI).
“Total loss is estimated at Rs 1.5 trillion, of which Maharashtra, Madhya Pradesh and Rajasthan account for 80 per cent. Maharashtra alone accounts for 54 per cent,” wrote Dr. Soumya Kanti Ghosh, group chief economic adviser at SBI in an April23 note.
ALSO READ: S&P forecasts 11% growth for India this fiscal, flags impact of lockdowns
ALSO READ: S&P forecasts 11% growth for India this fiscal, flags impact of lockdowns
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