‘GDP estimates more encouraging than anticipated’: CEA KV Subramanian

Chief Economic Advisor (CEA) KV Subramanian said Gross Domestic Product (GDP) estimates are more encouraging than what was anticipated.

However, Subramanian also urged caution given the Covid-19 pandemic and the winter months.

India's GDP growth contracted by 7.5 per cent in Q2 after a record slump of 23.9 per cent in the previous quarter (Q1).

"Indian economy had picked up momentum by February 2020, only to be halted by COVID-19 outbreak.

The Q1-GDP contraction was primarily due to the stringent lockdown," CEA said.

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