Economic Growth: Omicron's effect will be seen on economic activities, the growth rate may decrease in March quarter

Omicron Coronavirus Covid 19: Omicron cases are increasing rapidly across the country, due to which all the states have imposed different restrictions. The effect of the restrictions imposed in all the states will be seen on the economic activities of the country. Economists of HDFC Bank have said on Tuesday that due to the increasing cases of Omicron, there will be pressure on economic activity.

The impact will be visible in the March quarter

Let us tell you that due to the impact of Corona on economic activities, the growth rate may be affected by 0.30 percent in the March quarter. Economists of the leading private sector banks said that earlier they expected the growth rate to be 6.1 percent in the fourth quarter, but due to the outbreak of Omicron, it could be affected by 0.2-0.3 percent.

The effect of sanctions will be visible

He said, "Due to the restrictions related to Covid by the states, economic activities are expected to be affected in the fourth quarter of the financial year 2021-22." Apart from this, there will be a night curfew in Delhi from 10 pm to 5 am.

60% cases are from Omicron

Economists said in a commentary that downside risks remain at the moment due to more states imposing sanctions, an extension of sanctions beyond January 2022, and a slowdown in global revival. He said that the cases of Omicron are increasing rapidly in India and 60 percent of the total new cases are of this new form of infection.