‘Coronavirus Lockdown has Already Done More Damage to Economy than Demonetisation’ I Karan Thapar
- 3 years ago
In an interview that paints a stark and dramatic picture of the damage the Coronavirus health scare will do to the economy, and is the first wake up call in this regard, Prof Jayati Ghosh of JNU says already after 2 days of lockdown more damage has been done to the economy than by demonetisation since it happened in Nov 2016. She says growth in March is already negative and the economy will shrink over the next three months.
In a comprehensive interview to Karan Thapar for The Wire, recorded a few hours before Prime Minister Narendra Modi is due to address the nation for the second time since the onset of the Covid-19 pandemic, Prof. Ghosh says growth for the last quarter of the year ending March 31, 2020, is likely to be negative. For the year as a whole, it will be at least 2% below the Q3 figure of 4.7%, which puts full-year growth at 2.5%. She says it is impossible to say what growth will be for the year ending March 2021, because that entirely depends on what steps the government takes to deal with the effects of the lockdown and how effective they are.
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In a comprehensive interview to Karan Thapar for The Wire, recorded a few hours before Prime Minister Narendra Modi is due to address the nation for the second time since the onset of the Covid-19 pandemic, Prof. Ghosh says growth for the last quarter of the year ending March 31, 2020, is likely to be negative. For the year as a whole, it will be at least 2% below the Q3 figure of 4.7%, which puts full-year growth at 2.5%. She says it is impossible to say what growth will be for the year ending March 2021, because that entirely depends on what steps the government takes to deal with the effects of the lockdown and how effective they are.
Like our work? Click here to support The Wire: https://thewire.in/support
The founding premise of The Wire is this: if good journalism is to survive and thrive, it can only do so by being both editorially and financially independent. This means relying principally on contributions from readers and concerned citizens who have no interest other than to sustain a space for quality journalism. As a publication, The Wire will be firmly committed to the public interest and democratic values.
We publish in four different languages!
For English, visit www.thewire.in
for Hindi: http://thewirehindi.com/
for Urdu: http://thewireurdu.com
for Marathi: https://marathi.thewire.in
If you are a young writer or a creator, you can submit articles, essays, photos, poetry – anything that’s straight out of your imagination – to LiveWire, The Wire’s portal for the young, by the young. https://livewire.thewire.in/
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