homevideos Newseconomy NewsWill need to provide support if economy recovers at slow pace, says Sanjeev Sanyal
Will need to provide support if economy recovers at slow pace, says Sanjeev Sanyal
Where is the economy headed from here? What is the recovery timeline? Is it time for the government to further loosen its purse strings to finance more welfare schemes? To discuss this, Shereen Bhan spoke to Principal Economic Adviser Sanjeev Sanyal.
Indian economy contracted 7.3 percent in the last fiscal - its first full year contraction in the past four decades. This is even as the fourth quarter saw the economy grow by 1.6 percent aided by high government expenditure as well as some uptick in the manufacturing sector.
The Reserve Bank of India (RBI) in its paper on the state of the economy has projected that the second wave may leave a dent of as much as Rs 2 lakh crore in economic output.
Amid all of this, sky-rocketing fuel prices and higher food prices have seen India's retail inflation race to 6.3 percent in May, breaching the upper limit of the RBI's inflation target.
Also Read: Foreign investors to be allowed participation in domestic bond markets this fiscal: Sanjeev Sanyal
So, where is the economy headed from here? What is the recovery timeline? Is it time for the government to further loosen its purse strings to finance more welfare schemes? To discuss this, Shereen Bhan spoke to Principal Economic Adviser Sanjeev Sanyal.
For full discussion watch the video.
(Edited by : Bivekananda Biswas)
First Published: Jun 18, 2021 5:37 PM IST
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