The International Monetary Fund said India’s growth is expected to dip to 1.9% in 2020 and rebound to 7.4% in 2021. The monetary fund, in its 2020 World Economic Outlook, also predicted that the global economy is expected to shrink by 3.0% this year due to coronavirus-driven collapse of activity, adding that this is “much worse” than the 2008-’09 financial crisis.
Prime Minister Narendra Modi announced that the nationwide lockdown will be extended till May 3. Modi said new guidelines for the second phase of the lockdown will be released on Wednesday.
The Ministry of Railways has extended the suspension of services for all passenger trains till May 3, and all metro, domestic and international flight operations will also remain suspended during the period.
Thousands of migrant workers gathered outside Mumbai’s Bandra station on Tuesday to protest against the extended nationwide lockdown. They demanded transportation arrangements to go back to their hometowns.
On Tuesday evening, the health ministry confirmed 10,815 coronavirus cases and 353 deaths. The country witnessed the sharpest ever increase of 1,464 cases and 29 deaths in the last 24 hours. With 2,377 Covid-19 cases and 160 deaths, Maharashtra is the worst-hit state in India. Delhi has 1,510 cases of coronavirus and 28 deaths. More than 1,100 cases have been reported from Tamil Nadu, while Rajasthan has reported 879 cases. Madhya Pradesh has 730 cases of coronavirus.
Union Home Minister Amit Shah assured that there was enough food, medicines and other essential commodities in the country, adding that no one should worry about the extended lockdown.
The World Health Organisation praised “India’s tough and timely actions” against the coronavirus spread after prime minister’s extension of the lockdown.
British brokerage Barclays said India’s decision to extend the nationwide lockdown to combat the coronavirus pandemic till May 3 will inflict an economic loss of $234.4 billion (approximately Rs 18 lakh crore) or 8.1% of GDP.
The Congress criticised the Centre for not instituting any welfare measures for the economically weaker sections, including the lack of a financial package, while announcing the extension of the lockdown.
Covid-19 has infected 19,24,878 people in the world, and caused 1,19,766 deaths, according to the Johns Hopkins University tracker.