Curbs to affect Maharashtra GSDP by up to 1.5%: Industry association

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The enhanced lockdown-like restrictions in Maharashtra could impact the states economy by up to 1.5% if these curbs continued for about a month, observers said.

The observers, however, said the overall impact would be softer than last years economic impacts following a total lockdown.

Estimates from the Mahratta Chamber of Commerce, Industry and Agriculture-notes-for-state-psc-exams”>Agriculture (MCCIA) revealed that the Pune region, the states main manufacturing base and information technology hub,

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was losing around Rs5,600 crore in the gross value addition (GVA) value of goods and Services, minus input costs per week in the enhanced restrictions and lockdown-like period. For the state, a two-week period of restrictions entails about a 0.5% impact on the Gross State Domestic Product (GSDP). More restrictions, such as a lockdown, or a lengthening of the period of restrictions to the middle of May, can increase that impact by up to 1.5%.