Prime Time Zone, Webdesk: Losing jobs due to the corona epidemic, among other reasons, has resulted in a family income of Rs. According to a report, Rs 13 lakh crore was lost. In addition, UBS Security India has warned that the economy will slow down by 2021 on the back of slowing consumer demand.
Economists at UBS Security India said that while the growth rate in the second and third quarters of 2020-21 was positive, there were indications that the economy would slow down by the middle of this year as many families in the country lost their income due to the corona.
GDP grew by 40 basis points in the first quarter of the current financial year from 23.9 per cent in the third quarter. They believe that this trend will depend on the stability of the recovery, the revival of new investment and the declining pressure on the financial sector. Economists say it is crucial that normal economic activity can continue the same growth rate after a rapid recovery in two to three quarters, even if the corona returns to normal.
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