With each passing day of the lockdown, the Indian economy is being dragged deeper towards a recession. On Wednesday, two rating agencies have cut India’s GDP in the current year to -5 percent – CRISIL and Fitch – with CRISIL adding that India may take 3 years to get back to the pre COVID momentum. To discuss this, Latha Venkatesh spoke to Kaushik Basu, Professor of Economics at Cornell University and Former Chief Economist of World Bank.