19 min

Episode 16: GDP Growth during COVID-19 Transforming India

    • News

In the latest episode of the Transforming India podcast, co-hosts Arvind Panagariya and Pravin Krishna discuss the decline in India's GDP growth in the April to June quarter in 2020, analyze its origins and recommend what actions the government and the RBI can take to bring growth back on track. They argue that the decline in growth is largely due to COVID-19 and also highlight that we need not be pessimistic about India's growth prospects after the pandemic. The government needs to create conditions for workers to go back to work safely, including through vaccinating 60% of the population, and focus on bank recapitalization. The RBI needs to ease interest rates further rather than focus on inflation. The RBI must also prevent the rupee from further appreciation due to foreign capital inflows. Finally, Professors Panagariya and Krishna discuss the numerous reforms that the government has been undertaking, including in the areas of agriculture and labor laws.

In the latest episode of the Transforming India podcast, co-hosts Arvind Panagariya and Pravin Krishna discuss the decline in India's GDP growth in the April to June quarter in 2020, analyze its origins and recommend what actions the government and the RBI can take to bring growth back on track. They argue that the decline in growth is largely due to COVID-19 and also highlight that we need not be pessimistic about India's growth prospects after the pandemic. The government needs to create conditions for workers to go back to work safely, including through vaccinating 60% of the population, and focus on bank recapitalization. The RBI needs to ease interest rates further rather than focus on inflation. The RBI must also prevent the rupee from further appreciation due to foreign capital inflows. Finally, Professors Panagariya and Krishna discuss the numerous reforms that the government has been undertaking, including in the areas of agriculture and labor laws.

19 min

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