Without more stimulus, India's GDP may contract 9% in FY21: Pronab Sen

Sen said that on the face of it, the package looked good, with roughly the kind of damage that has happened to the economy

Former chief statistician Pronab Sen fears that the country’s gross domestic product (GDP) will contract astronomically by nine per cent in 2020-21 if the government does not go beyond the package announced by finance minister Nirmala Sitharaman on Wednesday.
 

Sen, who is the country head of International Growth Centre (IGC), told Business Standard that GDP will fall by nine per cent in FY21 if the government sticks to the expenditures provided in the Budget.
 

“We need to wait for more announcements to see if there is going to be any extra spending. Up to today’s (Wedensday’s) announcements, there is no