Prolonged lockdown may push millions into margins of subsistence: Former RBI Governor Subbarao
A prolonged lockdown may possibly push million of Indians into the “margins of subsistence”, former RBI Governor Duvvuri Subbarao said on Sunday while expecting a ‘V’ curved recovery once the COVID-19 crisis ends and the turnaround in India to be faster than some economies.
He was participating in a webinar on “History repeats – but differently- Lessons for the post Corona World,” organised by the Manthan Foundation here, in which former Deputy Governor of RBI Usha Thorat took part.
“Because most analysts believe that this year India will actually have negative growth or growth will contract. We must remember that even ahead of the crisis two months ago our growth slowed. Now it has completely stopped.
Source: The Economic Times