Following the lockout imposed in India in the wake of the deadly outbreak of the dangerous disease forced everything to shut across the country resulting in a huge loss for the economy.
This has resulted in Indians losing their jobs with many sectors and fields went through severe losses and some experts even predicted that if the same situation continues, there is a threat of around 13.5 Crore Indians losing their jobs.
In the wake of this tough situation, renowned American multinational investment bank, and financial services company Goldman Sachs Group estimated that India will witness worst-ever recession
The company estimated that the Gross Domestic Product(GDP) of India might get a dip by 45% in the second quarter which can be cited as the worst recession ever faced by India.
Goldman Sachs said that in the 2021 fiscal year, the real Gross Domestic Product(GDP) of India will fall by 5%. The firm added that the economic package announced by Prime Minister Narendra Modi led Centre will not help the sectors to grow further.
Quite surprisingly, the same company in its earlier forecast said that India might witness a slump of20%
This has resulted in Indians losing their jobs with many sectors and fields went through severe losses and some experts even predicted that if the same situation continues, there is a threat of around 13.5 Crore Indians losing their jobs.
In the wake of this tough situation, renowned American multinational investment bank, and financial services company Goldman Sachs Group estimated that India will witness worst-ever recession
The company estimated that the Gross Domestic Product(GDP) of India might get a dip by 45% in the second quarter which can be cited as the worst recession ever faced by India.
Goldman Sachs said that in the 2021 fiscal year, the real Gross Domestic Product(GDP) of India will fall by 5%. The firm added that the economic package announced by Prime Minister Narendra Modi led Centre will not help the sectors to grow further.
Quite surprisingly, the same company in its earlier forecast said that India might witness a slump of20%