Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey

Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or in April 2020

India's gross domestic product (GDP) will reduce by around 0.5 per cent on account of the coronavirus outbreak across the country, says CARE Ratings in a survey ‘Impact of the Corona Virus on the India Economy’. The survey covered over 150 participants—including industry stakeholders like c-suite executives, analysts, investors, economists—across sectors such as manufacturing, financial services and banking.
 
Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or on April 2020. Fiscal deficit may widen if the government announces fiscal measures to support the economy. Drugs