Small positive growth can't be ruled out despite Covid lockdown: Rangarajan

Noting that the lockdown has put a brake on the economy, the paper suggested that the need to kick start the economy and move it forward has become urgent

A small positive economic growth in 2020-21 may not be ruled out as sectors like agriculture and essential goods and services were fully operational in the first quarter despite coronavirus-induced lockdown, according to a paper co-authored by former RBI governor C Rangarajan.

Rangarajan and India EY India chief policy advisor D K Srivastava in a paper titled 'India's Growth Prospects and Policy Options: Emerging from the Pandemic's Shadow' stated that the story of the Indian economy as it unfolds under the impact of Covid-19 is disquieting.

The paper noted that although many national and international agencies have projected a sharp