Former CEA Arvind Virmani on growth slump & the way forward
In an interview to ETCFO, Former Chief Economic Advisor (CEA) Arvind Virmani discussed the slowdown in the Indian economy and shared his outlook going forward.
The Indian economy has further slowed down in the July-September quarter to 4.5 per cent, as against 5 per cent in the first quarter of the financial year 2019-20. Below are edited excerpts:
Q: What does the slowing growth imply for the economy?
Arvind Virmani: This was the sixth consecutive quarterly year-on-year decline. It is likely that the growth has bottomed out. Going forward, the December quarter is likely to show a modest recovery.