India may escape a recession, but coronavirus will slow down growth further

Pramod Mathew
India may escape a recession, but coronavirus will slow down growth further

Rating agencies, both global and domestic, are unanimous that the Covid-19 pandemic will be an economic tsunami for India. India is currently in the midst of a 21-day lockdown, that began on March 25, to contain the spread of the coronavirus. India’s central bank joined the fight a day later with sharp interest rate cuts and a slew of unconventional measures aimed at making credit available to beleaguered businesses.