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Significance
Many urban firms are suffering labour shortages, as the nationwide lockdown forced millions of migrant labourers to leave the cities in which they were working and return to their homes in rural areas.
Impacts
GDP will likely contract heavily in fiscal year 2020/21 (April-March).
Since ‘normal’ monsoon rainfall is forecast, there should be sizeable harvests this year, increasing the likelihood of agricultural growth.
As COVID-19 cases continue to rise, health services in many cities could become overwhelmed.
Keywords:
India,
AP,
ASEAN,
China,
South-east Asia,
economy,
industry,
international relations,
politics,
social,
agriculture,
employment,
fiscal,
growth,
health,
labour,
manufacturing,
debt,
election,
foreign investment,
foreign trade,
investment,
reform,
Agribusiness,
Industrials
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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