The world is going towards a major economic slowdown due to Corona virus. S&P Global Ratings has said that the global economy is entering a period of great recession amidst the growing threat of Corona virus. Due to this, big economies like China, India and Japan will have a big impact. Currently, the rating agency has reduced the growth estimate of these countries as compared to the earlier estimate. Let us know that at least 119 countries of the world have come under the grip of Corona virus outbreak which started in China. Due to this, more than 4 thousand deaths have been done worldwide and about 1.5 lakh have been infected so far. Due to this, trade activity at the global level has been badly affected.
The Indian economy, hit by Corona, has received another setback. S&P Global Ratings has slashed India’s global economic growth forecast to 5.2 per cent in 2020 and said that the global economy is entering a recession amid the growing threat of the corona virus. Earlier, the agency had projected a growth of 5.7 percent in India in 2020.
S&P said in a statement that the world is entering a period of recession. Sean Roshe, head economist for the Asia Pacific at S&P Global Ratings, said a major setback in China in the first quarter, shutdowns in the US and Europe and Corona virus infection would cause a major slowdown in the Asia-Pacific.
Bad effect on India, China and Japan
S&P has reduced growth estimates for India, China and Japan. The agency says that we have reduced the growth forecast for 2020 in China, India and Japan to 2.9 per cent, 5.2 per cent and -1.2 per cent. It was earlier 4.8 percent, 5.7 percent and -0.4 percent.
Corona status in india
Total cases of Kovid-19 positive in India have increased to 147. Maharashtra has seen the highest number of 42 cases so far. So far 3 patients have died due to corona infection in the country. The first of these is a 76-year-old elderly man from Kalburgi in Karnataka and a 69-year-old woman from Delhi. At the same time, the third death was of a 64-year-old patient admitted to Kasturba Hospital in Mumbai. On the death of Corona, the Center has announced a compensation of 4 lakh to the family of the deceased. Help line number + 91-11-23978046 has been released for Corona virus.