The Covid-19 pandemic is growing rapidly and multiplying human misery every day. The world appears helpless in front of this unseen enemy. Lockdowns in various parts of the world in general and India in particular have created an unprecedented economic crisis.
It is estimated to cause a bigger loss to the global economy than even the Great Depression 90 years ago. The output loss would also surpass that of the global financial crisis 12 years ago. At that time, the world economy had contracted by 1.7 per cent. According to the Global Financial Stability Report of the International Monetary ...
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First Published: Wed, April 29 2020. 00:03 IST
