A MONTH-LONG national lockdown to arrest the spread of COVID 2.0 could shave off 100-200 bps of GDP, leading to a 300 bps risk to annual growth, a brokerage report has flagged while expressing doubts over the ability of local lockdowns to control the pandemic. The second wave of the coronavirus inflection has caught the government off-guard with the daily cases jumping over 6.5 times in the past 30 days.
With close to 3.53 lakh fresh daily infections, the country is the worst hit globally. Death toll jumped to 1,95,123 as of 8 am Monday, with a daily new peak of 2,812 deaths in the past 24 hours, according to the Government data. It remains to be seen if the second wave subsides without a national level lockdown. A month of nationwide lockdown costs 100-200 bps of GDP.