India macroeconomic outlook set to worsen if lockdowns continue: Jean Dreze

According to Fitch Ratings, India may post in 2020-21 a GDP growth of 2%, the slowest since the economy was liberalised 30 years back.

The Indian macroeconomic situation is bleak and all set to get worse if local or national lockdowns continue for some more time, renowned economist Jean Dreze said on Sunday.

Dreze further said that due to the country-wide lockdown, social unrest in many parts of India has already started.

The country is under a 21-day lockdown as part of larger efforts to curb spreading of coronavirus infections.

"The situation is bleak and all set to get worse, if local or national lockdowns of varying intensity continue for some time, as is likely to happen.

"Even otherwise, the world-wide recession is likely to have adverse affects