Economic growth may fall to 1.1 per cent this fiscal, says SBI report© business-standard.com

Economic growth may fall to 1.1 per cent this fiscal, says SBI report

, 4 news, a view

India’s GDP growth may slide to 1.1 per cent in the current fiscal year, on account of the impact of Covid-19 outbreak on the economy, a research report by SBI said on Thursday.

The economic growth rate during 2019-20 is estimated to come down to 4.1 per cent from 5 per cent projected by several agencies before the outbreak of deadly virus, which affected more than 2 million persons around the world and took lives of over 130,000 people.

To check the spread of Covid-19, the government has decided to extend the lockdown to May 3, with some relaxations for specified sectors.