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'No doubt' on GDP contraction in Q1: CEA Krishnamurthy Subramanian

Subramanian also said that the Centre had gone beyond its means to support states, was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon

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Despite almost three decades of liberalisation, so far we've not clarified very clearly, what is the role of the private sector that we expect in the economy. I think for the first time now this has been very clearly articulated, says CEA K Subramanian

Arup Roychoudhury New Delhi

5 min read Last Updated : Jun 06 2020 | 6:01 AM IST

Chief Economic Advisor Krishnamurthy Subramanian on Friday said he saw a downside risk to his assessment of 1.5-2 per cent GDP growth for FY21 but declined to give numbers, citing uncertainty. In a wide-ranging interaction with Arup Roychoudhury, Subramanian also said the Centre had gone beyond its means to support the states and was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon. Excerpts:

We have just had the Q4FY20 GDP numbers. What are your projections for Q1 and FY21?

It is useful to put Q4 numbers in perspective. We have looked

Topics : Coronavirus Nirmala Sitharaman Fiscal Deficit Lockdown Chief Economic Advisor CEA Krishnamurthy Subramanian Indian Economy GDP growth Stimulus package IIP FRBM State borrowing Moody's Reserve Bank of India RBI GST compensation goods and service tax privatisation public sector undertakings air travel in India