COVID-19: Seeing if cash transfers could be done for informal sector, says CEA K Subramanian

Chief economic adviser K Subramanian on Thursday said that India’s response to the Coronavirus outbreak could include cash transfers to the informal economy.

In an exclusive interaction with CNBC-TV18, the CEA also said that India’s growth rate could take a hit in the current quarter and may be lower than five percent.

He added, “We will on the fiscal side try and see if there could be some cash transfers that could be done. India has a very large informal sector and it may be particularly impacted by the lockdown because these are people who don’t necessarily have a permanent job and so that is something that is required.”

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