Barclays sticks to GDP projection of 0% in 2020; says lockdown 3 priced in

The government officially extended India's lockdown by another two weeks to May 17 on Friday evening

Barclays sees India’s growth as measured by gross domestic product (GDP) dip to 0% in calendar year 2020 (CY20) even as the government extended the zone-wise lockdown in the country and said that the extension till May 17 announced Friday already factors in this estimate. Barclays had always maintained that the lockdown India’s is likely to be longer than announced initially and had recently forecast the GDP dip to 0%.

“We remain comfortable that the lockdown may continue on a partial basis until June 6, as part of the precaution in containing the outbreak. We had also factored in a