Agency, New Delhi.
Published by: Jeet kumar
Updated Tue, 04 May 2021 06:27 AM IST
– Photo: social media
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Barclays said that demand and employment were adversely affected by the nationwide lockdown to overcome the first wave of infection. In the second wave, if the rapid pessimism of the epidemic is not quickly controlled and the movement continues to be banned until August, the growth rate may fall to 8.8 per cent.
Growth rate estimate reduced to 10 percent
Barclays has lowered the country’s economic growth forecast for the current financial year from 11 per cent to 10 per cent. Its analysts said the growth rate estimate has been cut, given the uncertainty arising due to the rate of infection and the rapidly increasing number of deaths.
The slow pace of vaccination may also affect the chances of improvement. Earlier many agencies have cut growth rate estimates. RBI also said that the economy will grow at a rate of 10.5 per cent during 2021-22.