Economic crisis is ‘the pralay of Hindu mythology’: Arvind Subramanian

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Economic crisis is ‘the pralay of Hindu mythology’: Arvind Subramanian

Apr 28, 2020 22:48 IST

Calling the present economic situation ‘the pralay of Hindu mythology’, former Chief Economic Advisor Arvind Subramanian, told the Indian Express that India should plan for negative growth rates in this financial year. Subramanian said our food stocks are turning out to be equitable social safety net. He said for developing countries like India, the tradeoff between lockdown and economic activity should be different from developed countries. Subramanian also said while the RBI had lowered rates and made liquidity available, what was required was actual credit flowing to the corporate sector, including small and medium firms.

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