NEW DELHI : IMF's Chief Economist Gita Gopinath on Thursday said it would be damaging for India to start tightening policy support in the midst of the COVID-19 pandemic and also stressed on reducing wasteful expenditures in the upcoming Budget.Delivering NCAER's '9th C D Deshmukh Lecture' virtually, Gopinath said there is scope for the Indian government to provide more direct support to people."It would be damaging (for India) to start tightening of policy support in the midst of the pandemic," the chief economist of the Washington-based global financial institution said.
Noting that India's debt-to-GDP ratio has gone up to 85 per cent, Gopinath said the country's banking sector is vulnerable due to rise in bad loans during the.
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