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Experts fear massive 40% fall in April GDP, call for unlocking of economy

"There are some signals... the global markets are fearing that India is going to slide into a controlled economy which is very damaging," said former Chief Economic Advisor Kaushik Basu

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Naushad Forbes, former president of the Confederation of Indian Industry (CII) and co-chairman of Forbes Marshall, said his back of the envelope estimates indicate that the country's GDP contracted 40 per cent in April.

Indivjal Dhasmana New Delhi

3 min read Last Updated : May 07 2020 | 8:22 PM IST

Fearing a 40 per cent contraction in India's gross domestic product (GDP) in April, experts have cautioned that India should not send out a signal that the lockdown is resulting in making it a controlled economy.

"There are some signals... the global markets are fearing that India is going to slide into a controlled economy which is very damaging," said former Chief Economic Advisor Kaushik Basu at a webinar organised by the Institute of Economic Growth.

Naushad Forbes, former president of the Confederation of Indian Industry (CII) and co-chairman of Forbes Marshall, said his back of the envelope estimates indicate

Topics : Coronavirus Lockdown Indian Economy India GDP growth Kaushik Basu Confederation of Indian Industry Naushad Forbes telecom sector automobile sector agriculture growth

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