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      • Understanding The Economic Impact...
      BOOM Explains

      Understanding The Economic Impact Of COVID-19

      By - BOOM FACT Check Team |
      Published -  28 March 2020 7:00 PM IST
    • Boomlive

      "Difficult to predict the growth & inflation outlook as we have no assessment of how the lockdown will impact the economic activity, says D K Joshi, Chief Economist, CRISIL. He further added that we need to continuously revise the outlook as and when more information comes in.

      Here are a few more points that economist D K Joshi made -

      * Macro model which is typically used to forecast won't work in such a scenario. So, we need to go off-model.

      * Non-linearity is extremely difficult for humans to assess.

      * Re-assessment should happen continuously, as and when new information comes in.

      * GDP will not give a true measure of the pain that the system is going through.

      * If this situation continues for 3 months, small businesses may disappear and when the economy recovers, there will be a shortage of productive capacity.

      Watch this episode of Fact File to know more details.

      Tags

      Indian EconomyCOVID-19CoronavirusCRISILRBI#Coronavirus
      Read Full Article
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