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Economy

SBI estimates a 6% loss in GDP due to lockdown extension

Updated : May 04, 2020 12:51 PM IST

India has extended the nationwide lockdown till May 17 as the number of coronavirus cases continues to rise with the tally crossing 40,000, as of Monday. The death toll is nearing 1,400-mark now.

Though some rules have been eased for districts classified as green zones and orange zones, large areas still fall under the red zones. Therefore, gross domestic product (GDP) is still under pressure.

Soumya Kanti Ghosh, group chief economic advisor of State Bank of India (SBI) and Mark Matthews of Bank Julius Baer & Co discussed how this extension will impact the economy further.
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