How would India’s economy look once it begins to crawl back to normalcy after the lockdown eventually gets lifted? While economists have tried to arrive at a reasonable outlook, the Reserve Bank of India (RBI) has refrained from giving any forecasts.
That said, the six members of the monetary policy committee (MPC) offered some indication of how the economy would fare post covid-19.
The closest to a numeric forecast, albeit optimistic, comes from member Ravindra Dholakia who believes gross domestic product (GDP) could grow at a slower 4.0-4.5% for FY21.
This is far higher than what other economists have given. Nomura leads the pack with the most pessimistic forecast of -0.5% for 2020.