Source: https://www.financialexpress.com/economy/cost-of-21-day-lockdown-india-to-lose-rs-9-lakh-crore-as-people-slam-doors-shut-on-coronavirus/1908890/
The cost of economic lock down that nation as to bear. The PMO is tight lipped on this, but it will test both the Party policies, the people and the Nation as a whole.
It specified the cost of the three-week nationwide lockdown to be alone at USD 90 billion, which is over and above the lockdowns announced by various states like Maharashtra earlier. They also said that the RBI is most likely to go for a 0.65 per cent rate cut in the April review and will slash interest rates further by 1 per cent during the course of the year.
Domestic brokerage Emkay congratulated policymakers for acting earlier than other countries, but rued that there is not much to cushion the economic impact. “The Indian government has so far been largely silent on the economic impact from the lockdown, leave alone any measures to cushion the hit,” it said. The unorganised sector, which is already reeling under the twin impact of demonetisation and goods and services tax (GST), will be pushed to the brink because of these measures, Emkay warned.
