India's chief economic advisor says the government will not rule out short-term fiscal stimulus

The Indian economy shrank at its steepest pace of 23.9% for the three months between April to June.

for the three months from April to June. The country was under a national lockdown between April to May in an attempt to slow the spread of the coronavirus outbreak. Private consumption and investment demand collapsed as most nonessential activities were barred during the lockdown, leading to job and income losses and uncertainties that curtailed spending.

"Some of the services which are affected by social distancing – those may be a little more difficult given the uncertainty that people are still experiencing all over the world. But, given those constraints, still there is a case for a short-term stimulus around the festive season," he added.

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