Current Economic Situation Occurs Once In A Century Says Indian Economist Dr KV Subramanian
Subramanian said that the worst is behind us and the upcoming months will be much better for India’s economy.
India’s quarter one GDP (Gross Domestic Product) has shrunk by 23.9 per cent. The nation has experienced such an economic downfall after nearly 24 years. In an interview with a leading news channel, Chief Economic Advisor, Dr KV Subramanian shared his views on this worrisome situation. Subramanian said that the entire world is currently going through a terrifying situation. World economies have been severely affected by the pandemic and India is no different from the rest. The news is shocking as the current economic situation arrives once in a century.
The lockdown that was imposed to curb the virus has impacted many businesses which resulted in an economic slump. Large number of people have lost their jobs due to COVID-19. Subramanian further said that the worst is behind us and the upcoming months will be much better for India’s economy.
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