Economic tsunami: Corona to shave off Rs 40,000 cr everyday

The Indian economy is hit by a tsunami, so to say, as the coronavirus has collapsed all industries, from hairpin to aeroplane. If the 21-day long national lockdown leads to 80 per cent production loss, the economy will take a hit of Rs 35,000-40,000 crore on a daily basis, shaving off Rs 6.3-7.2 lakh crore cumulatively, says Care Ratings. The assessment is based on the FY20 real GDP that is Rs140-150 lakh crore. Continue Reading