'Budget is Right for Shrinking Economy But Investment Crisis Next Year Could Make Growth Plummet'
- 3 years ago
India’s former Chief Statistician and the present Chairman of the government’s Standing Committee on Economic Statistics says this financial year the economy will shrink around 11-12% and not just 7.7% as the NSSO has claimed. He says it’s likely that during the first half of the financial year the economy shrank by 24%. Even if the economy does not shrink at all in the second half of the financial year, over the year as a whole it will have shrunk 11-12%. However, Pronab Sen adds that the budget announced on the 1st of February was the right budget for the country and he is happy with it. The problem is it doesn’t go far enough.
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