In my article last month (“The lockdown hammer”, Business Standard, May 14) I presented two scenarios of real GDP growth during FY 2020/21, one yielding (-) 11 per cent and the other (-) 14 per cent in the full fiscal year, with the damage being concentrated in the first quarter, amounting to (-) 25 per cent and (-) 33 per cent, respectively.
At that time I felt a bit lonely, with the IMF, the World Bank, most investment banks and credit rating agencies and dear old finance ministry still clustering their FY 2020-21 growth projections in the 0-2 per cent positive range. In the ...
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First Published: Thu, June 11 2020. 00:01 IST
