'Even if India loses one month's output, we are talking about pretty negative rate of growth and that is what should determine how we respond,' says the former chief economic adviser New Delhi: Former chief economic adviser Arvind Subramanian on Wednesday said the GDP numbers being projected by the World Bank and IMF for India are far "too optimistic" and the country would require additional expenditure of ₹10 lakh crore to bring the coronavirus-hit economy back on track.
As per the World Bank's latest assessment, India is expected to grow 1.5 per cent to 2.8 per cent during the current fiscal due to the impact of the COVID-19 pandemic and consequent lockdown.