According to a report on the recent consumption demand that has damaged the economy due to the possibility of the economy collapsing by mid-2021, the loss of jobs caused by the epidemic has led to a loss of Rs 13 lakh crore of their income to the families. Month.
‘May slow down by mid 2021’
Terming the growth momentum seen in the second and third quarter of FY15 as a positive surprise, economists at UBS Securities India, led by Tanvi Gupta Jain, said the economy could slow down by mid-2021 as income slump during the pandemic The moment in households can drag the consumption of 13 lakh crores with a lag.
In the second quarter of the current financial year, GDP contraction was limited to 7.5%, while in Q3, it increased by 40 basis points (bps).
Given this, the stability and growth outlook of the recovery seen in the second and third quarter is dependent on revival in new investment intentions and easing financial sector tensions.