Corporate India is expecting a 0.5 percent hit on economic growth in FY2020-21 if the coronavirus pandemic lasts longer, pushing up fiscal deficit and creating more bad loans for the bank, says an industry survey.
Care Ratings conducted a survey on the impact of the coronavirus pandemic on the economy among over 150 CEOs, CFOs, investors, analysts, and other stakeholders from manufacturing, financial services, infra, realty and services between March 5 and 12.
According to the survey, the economic impact will be significant and long term if the virus continues for longer.
They also fear a widening of the fiscal deficit if the government announces fiscal measures to support the economy, with 70 percent expecting widening of the fiscal deficit to the tune of 0.25 percent in FY21.
While the hospitality, tourism and aviation will be hit hard, pharma and healthcare will benefit from pandemic. | To read full story, visit https://startuparound.com/read/1584428404.9439037/India-Inc-fears-coronavirus-will-pull-down-GDP-by-at-least-50-bps?ref=audio_experience