The death toll in India climbed to more than 5,200, and the number of confirmed COVID-19 infections crossed over 185,000, according to Worldometer. This comes as the country recorded highest single-day spike of 8,380.
Amid the 'Unlock 1' phase announced by the Centre yesterday, many states are gradually lifting restrictions imposed to curb the spread of coronavirus.
Uttar Pradesh allowed interstate movement of people (except to and from containment zones) without the need for an e-permit. Maharashtra approved the opening of all markets and shops on an odd-even basis. Tamil Nadu has allowed IT and IT-enabled companies to function with 20 percent employees.
As per DBS Bank of India, the Indian economy is on course for a full-year contraction. Though tourism and hospitality companies are allowed to resume function during the 'Unlock 1' phase, the industry is reportedly suffering losses of around $4.5 billion as international air travel remains suspended and domestic travel is limited.
While most of the Indian economy is seeing a contraction, the e-sports and gaming industry observed 21 percent growth, according to a report by Maple Capital Advisors.
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The RBI had earlier pegged the GDP growth for 2019-20 at 5 percent, as projected by the NSO in its first and second advance estimates released in January and February this year.
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PM Narendra Modi says a section of India’s economy has restarted again and we need to be more careful now; advises that everyone ‘stay indoors as much as possible’.
As many as 8,380 new COVID-19 infections were reported in India in the last 24 hours, taking the country's tally to 182,143, while the toll rose to 5,164.
Edited by Teja Lele Desai