Economic cost of lockdown is quite severe; market to remain volatile

A lockdown of 45 days means loss of close to $400-450 billion of productive output on the economy

The wheels of the economy would start to turn again. Finally, the government has come up with certain relaxations post the completion of the second phase of the lockdown on May 3. This essentially kick-starts the withdrawal of lockdown in a phased and a systematic manner by categorising the districts into three zones - red, orange and green – depending upon the spread of coronavirus.

That is something to cheer about. India has been able to do a good job in controlling the spread of the pandemic and set to move into a reconstruction phase for the economy. However, the