India’s economy heads for double-digit decline as virus spikes
Going on in India. Shall we? Jews facing really bleak economic outlook. A submerged, of course, is the new epicenter for the Corona virus, economist and global institutions, cutting the nation's growth estimates to historic lows, miss projecting a double digit decline. Digit decline. I should say economy policy reporters and about naggy joins us Now, of course, could we put all these downgrades done to the patient's nous? Off the pathogen there in India. Absolutely rigid seems to be a rusted downgrade growth prospects of the people people coordinated contraction of nearly 24% in the print June period, and as you said the recent surge in virus cases Other eyes past five million cases and virus cases and localized love down means India will take longer to recover from that contract Shin and while some of the recent data from P. M Ise to gather Li Fai's points for stabilization and activity The central bank. Dodo warned this week that the recovery will be gradually more virus person. So what That means for an economy with just grew up that always percent in the past the three years ago is that it's not staring at the deepest economic contract shin and in history, but in millions of jobs at risk. Not just our billions of investments are being put off as companies and businesses brave for huge losses and both demand on profitability. They're not sell double digit historic contraction is more likely than not for Asia third largest economy.