Mumbai: Due to the outbreak of Corona virus, important sectors of the country are unable to get raw material, the GDP growth rate in the fourth quarter of the current financial year could be as low as 0.2%. A foreign brokerage company said this on Monday. The country’s economy is already experiencing heavy sluggishness and according to government estimates, the economic growth rate could be 5% in FY 2019-20, which will be a decade low. Growth in the third quarter was 4.7%, a seven-year low.
On Monday, two cases of corona virus have been confirmed in India, whereas earlier three cases of this virus have been successfully treated in Kerala.
In a report, UBS Securities said that supply chain of electronics, pharmaceuticals and automobile sectors could see a bottleneck, which could derail economic growth.
According to the report, “The situation is still changing and the scale of the economic impact is very uncertain at the moment and we feel that the GDP growth rate in the March quarter may be lower by 0.2%”.
