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The World Bank on12 April 2020 said the coronavirus outbreak has severely disrupted the Indian economy, magnifying pre-existing risks to its outlook. In its "South Asia Economic Update: Impact of COVID-19", the World Bank estimated the Indian economy to decelerate to 5 per cent in 2020 and projected a sharp growth deceleration in fiscal 2021 to 2.8 per cent in a baseline scenario.The Covid-19 outbreak came at a time when India's economy was already slowing, due to persistent financial sector weaknesses, the report said. To contain it, the government imposed a 'lockdown' with restrictions on mobility of goods and people.