NEW DELHI : Chief Economic Advisor (CEA) K V Subramanian said on Monday the GDP growth in the first quarter (April to June) this fiscal is likely to range between one to two per cent due to Covid-19 led crisis and subsequent lockdown which brought economic activities to a virtual standstill.
In the second quarter, he said, the economy could pick up as industries restart their operations with the streamlining of supply chains and migrant workers getting back to their jobs.
Subramanian said that it is difficult to estimate possible job losses due to the lockdown due to lingering uncertainty. However, good companies are likely to retain most of their workforce and with minimum wage cuts, as they resume operations, he told ANI.