India May Fall Into First Recession Since 1980, DBS Bank Says

The transcript discusses the economic challenges India faces due to COVID-19, including stringent lockdowns and their impact on GDP. It forecasts a significant economic contraction in 2020, with severe declines in trade and employment. The agricultural sector remains a potential cushion, but non-farm activities are heavily affected. The plight of migrant workers is highlighted, with government efforts to address their needs. The Reserve Bank of India and government have implemented fiscal measures, but more targeted support is anticipated to mitigate the economic downturn.

What was one of the main challenges for India in reopening its economy during the pandemic?

• Lack of healthcare facilities

• Natural disasters

• Rising COVID-19 cases

• Political instability

What was the predicted GDP contraction for India in Q2 of 2020 according to Goldman Sachs?

• 15%

• 25%

• 60%

• 45%

Which sector was expected to provide some economic support during the downturn?

• Technology

• Tourism

• Agriculture

• Manufacturing

Why can't the agricultural sector fully offset the economic decline?

• It relies on imports

• It is not technologically advanced

• It is heavily affected by COVID-19

• It is too small a part of the economy

What was a significant issue faced by migrant workers during the lockdown?

• Lack of transportation

• Health issues

• Inadequate housing

• Job displacement

What measure did the RBI take to support the economy?

• Increased taxes

• Cut benchmark rates

• Introduced new currency

• Banned imports

What is the expected outcome of the fiscal and monetary measures taken by the government?

• Rise in exports

• Immediate economic recovery

• Increased fiscal deficit

• Decrease in unemployment