Consumption sector will not be affected much by the 21-day lockdown

The 21-day lockdown will definitely have an adverse impact on the economy, as it will drag down the gross domestic product (GDP) in the subsequent quarters. I believe the full-year impact on GDP will be around 150 basis points (bps).  

However, it must be noted that there won't be permanent demand destruction. Once this lockdown gets over, things will return to normalcy. As regards specific sectors, consumption won't be affected as people will continue to buy daily use, essential commodities and staples. Also, with the announcement of a 21-day complete shutdown, people are buying things quite aggressively and there