Cases of the new Coronavirus have also started increasing in other states of Maharashtra. Due to this, the danger of the second wave of Corona has started looming in the country. The collapsing wave of Corona has become a major threat to the economy returning to track due to the fall in the case of COVID-19. Economists at the Global Financial Services Group Nomura believe that the second wave of the COVID-19 in India has become a concern for near-term growth and has pushed market expectations to the point when the policy returns to normal.
According to a report published in Live Mint, economists Sonal Verma and Arudeep Nandi said in a note on 16 March that we are expecting only modest negative growth effects, as government restrictions are not too stringent. The goods sector is constantly moving forward and homes and businesses have come to normal levels.
In response to the increasing cases of COVID-19, the states have again implemented restrictions. In Maharashtra (which has about 14 per cent stake in the National GPD), Nagpur city has been imposed full seven days of lockdown from March 15. Prior to this, the partial lockdown has already been imposed in many districts of the state.
Work continues with 50 percent capacity
Hotels, restaurants, cinema halls and multiplexes have been allowed to operate in Maharashtra with 50 percent capacity. Shopping malls are required to follow a strict protocol. At the same time, the social, religious, political and cultural gathering has been banned.
Both the states of Punjab and Madhya Pradesh have implemented the night curfew in important cities while Karnataka is in weight and watch mode for a week.
Sanctions will affect activities
Nomura said, states have imposed restrictions and people have become more cautious. This may affect the speed of activities in the ruling term. The risk of service consumption such as hotels, restaurants, domestic travel and transportation activity has increased with the implementation of the ban.
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