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COVID-19 plays havoc with economy, Reforms like those in 1991 required...

New Delhi, Sep 29 (UNI) India’s economy is in ‘’unprecedented crisis’’ because of COVID-19 and ambitious reforms across a wide spectrum like those in 1991 would be required to nudge it to a higher growth trajectory, according to the National Council of Applied Economic Research (NCAER). The NCAER, India’s oldest and the largest independent economic policy research institute, has said in its Quarterly Review of the Economy (QRE) that outlook for the rest of 2020-21 and 2021-22 remained ‘’highly uncertain’’ and for the year as a whole 2020-21 GDP would decline by (-) 12.6 percent .
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