India GDP projections by World Bank, IMF too optimistic: Ex-CEA Subramanian

As per the World Bank's latest assessment, India is expected to grow 1.5 per cent to 2.8 per cent during the current fiscal due to the impact of the Covid-19 pandemic and consequent lockdown

Former Chief Economic Adviser Arvind Subramanian on Wednesday said the GDP numbers being projected by the World Bank and IMF for India are far "too optimistic" and the country would require additional expenditure of Rs 10 trillion to bring the coronavirus-hit economy back on track.

According to the World Bank's latest assessment, India is expected to grow 1.5 per cent to 2.8 per cent during the current fiscal due to the impact of the Covid-19 pandemic and consequent lockdown.

Similarly, the IMF on Tuesday projected a GDP growth of 1.9 per cent for India in 2020, as the global economy