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Corona’s havoc, Goldman Sachs slash estimate of India’s GDP growth rate

The second wave of Kovid-19 (COVID-19) is also seen to be causing problems for the economy. Goldman Sachs, a Wall Street brokerage company, has slashed India’s growth rate for the current fiscal year 2021-22. Goldman Sachs has lowered its estimate of India’s economic growth to 11.1 percent in the current financial year from March 31, 2022 to March 31, 2022, after announcing the lockdown to prevent the spread of corona virus infection in many cities and states.

Let us know that India has become the most affected country in the world in Kovid-19 cases. Here the death toll has crossed 2.22 lakh and new cases are coming above 3.5 lakh daily. It has started demanding strict nationwide lockdown to stop the spread of the virus. The Modi government last year announced a nationwide lockdown to prevent the corona infection, which devastated the economy.

However, this time the central government has already said that it will not impose a nationwide lockdown. The government has left the states to impose sanctions to reduce the infection of Corona. Lockdowns of varying degrees have been imposed in many states and cities.

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