Offtopic from Technology related post 002 : Indian Situation Report [Coronavirus Disease (COVID-19)] [part 2]

Indian Situation Report [Coronavirus Disease (COVID-19)]

24 MAY 2020: WHO SITUATION UPDATE STATED INDIA (24.05)131,868 CONFIRMED CASES3,867 TOTAL DEATHSSOUTH EAST ASIA REGION(23.05)182, 278 CONFIRMED CASES5, 556 TOTAL DEATHSWORLD(23.05)5,103,006 CONFIRMED CASES333,401 DEATHS.

The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. The World Bank and rating agencies had initially downgraded India's growth for fiscal year 2021 with the lowest figures India has seen in three decades since India's economic liberalization in the 1990s. How ever after the announcement of the economic package in mid-May, India's GDP estimates were downgraded even more to negative figures, signalling a deep recession. On 26 May, CRISIL announced that this will perhaps be India's worst recession since independence. State Bank of India research estimates a contraction of over 40% in the GDP in Q1 FY21.

Within a month, unemployment rose from 6.7% on 15 March to 26% on 19 April. During the lockdown, an estimated 14 crore (140 million) people lost employment. More than 45% of households across the nation have reported an income drop as compared to the previous year. The Indian economy was expected to lose over ₹32,000 crore (US$4.5 billion) every day during the first 21-days of complete lockdown, which was declared following the coronavirus outbreak. Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional. Up to 53% of businesses in the country were projected to be significantly affected .Supply chains have been put under stress with the lockdown restrictions in place; initially, there was a lack of clarity in streamlining what an "essential" is and what is not. Those in the informal sectors and daily wage groups are the most at risk. A large number of farmers around the country who grow perishables are also facing uncertainty. Various businesses such as hotels and airlines, are cutting salaries and laying off employees