New Delhi: The Indian economy will decline by five percent in the current financial year due to problems in virus prevention, weak policy process and other weaknesses, especially financial sector. However, the state of the economy will improve in the next financial year. “
The S & P’s report titled ‘Asia-Pacific’s loss from balance account slows to $ 3,000 billion’ states that in 2020 the region’s economy will decline by 1.3 percent. However, in 2021 the region’s economy will grow at a rate of 6.9 percent. Its opinion is that in these two years the region will suffer a production loss of about $ 3,000 billion.
S&P Global Ratings chief economist Sean Roshe said, “Asia-Pacific has had some success in controlling Kovid-19. The region has responded through effective macro-economic policies. “He said that this could provide some protection against the setback. And at the same time the path of improvement can be prepared. However, due to the pressure on Santulna accounts, there will be pressure on the recovery of the economy. S&P said that another risk that is visible is the ‘balance account slowdown’.
