Coronavirus impact: BofAML expects March shutdown to cost 50 bps of annual GDP
Updated : March 23, 2020 12:24 PM IST
BofAML has cut its India growth forecast by 90 basis points to 3.1 percent from 4 percent in the March quarter.
It estimates that a month's shutdown will cost about 50 bps of annual GDP.
The brokerage also expects this pandemic to lead to a global recession and has also cut the 2020 global growth rate.