Resource detail

The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, The world's biggest lockdown may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said. With the intent to contain the spread of COVID-19, with effect from March 25 a nationwide complete lockdown has brought as much as 70 per cent of economic activity, investment, exports and discretionary consumption to a standstill. Only essential goods and services such as agriculture, mining, utility services, some financial and IT services and public services were allowed to operate. Stating that the pandemic came at the most inopportune time for India whose economy was showing signs of recovery after bold fiscal/monetary measures, Centrum Institutional Research said the country again stares at the possibility of low single-digit growth for FY2021 (April 2020 to March 2021).