<p>Former Union Finance Minister P Chidambaram on Thursday said that India’s economy is at the "lowest ebb" right now and it may recover in fiscal 2022-23 provided the government does not take any "foolish decisions".</p>.<p>Chidambaram, who has been appointed by the Congress as the party’s election observer for Goa, where Assembly polls are due early next year, made the statement during a press conference here on the second day of his two-day visit to the coastal state. "Indian economy is at the lowest ebb. Please remember that last year we ended with negative growth in GDP…The GDP declined," he said.</p>.<p>"The government talks of V-shaped recovery. In this year, the GDP will not be back to the pre-pandemic level. It is only when the GDP goes back to the pre-pandemic level you can say it is recovering," he added.</p>.<p>Chidambaram said that the GDP's recovery may happen in the year 2022-23. "But everything will depend upon how many foolish decisions the government takes," the Congress veteran said.</p>
<p>Former Union Finance Minister P Chidambaram on Thursday said that India’s economy is at the "lowest ebb" right now and it may recover in fiscal 2022-23 provided the government does not take any "foolish decisions".</p>.<p>Chidambaram, who has been appointed by the Congress as the party’s election observer for Goa, where Assembly polls are due early next year, made the statement during a press conference here on the second day of his two-day visit to the coastal state. "Indian economy is at the lowest ebb. Please remember that last year we ended with negative growth in GDP…The GDP declined," he said.</p>.<p>"The government talks of V-shaped recovery. In this year, the GDP will not be back to the pre-pandemic level. It is only when the GDP goes back to the pre-pandemic level you can say it is recovering," he added.</p>.<p>Chidambaram said that the GDP's recovery may happen in the year 2022-23. "But everything will depend upon how many foolish decisions the government takes," the Congress veteran said.</p>