Pranob Sen said when COVID-19 struck India and the lockdown began, there was already a negative momentum in the economy and capacity utilisation had gone down. The government should immediately pay off the dues of the states, beneficiaries of social sector schemes and clean its budget, he said.
Informal sectors – that suffered due to demonetisation – is not included in the GDP calculation and hence, the impact on Q4 will also not be much. Pranob Sen, former Principal Advisor at Planning Commission said that the existing rural stress would not be reflected in Q3 or Q4 numbers.
CNBC-TV18‘s Latha Venkatesh spoke about the quality of India's macro-economic data with TCA Anant, Chief Statistician and Pranob Sen, Chairman, National Statistical Commission.