MPC minutes: India's potential output pushed down, will take years to repair
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The minutes of the MPC's May 20-22 meeting was released by RBI on June 5, in which MPC member Michael Patra said that the damage to the economy is so deep and extensive that India's potential output has been pushed down, and it will take years to repair. The pandemic has brought economic activity across sectors to a virtual standstill, and is turning out to be more severe than initially anticipated.