Expect GDP contraction of 1.2% in current fiscal, stimulus package will not create large multiplier effect: Morgan Stanley
Updated : May 22, 2020 06:14 PM IST
Morgan Stanley in its report estimated that the GDP will contract by 1.2 percent in FY21, the deepest one in the last 40 years.
The renowned broker house feels that the slow exit of the lockdown implies deeper economic pain.
The brokerage believes that the social distancing measures and economic activity will not be eased before Q3Y20.