India needs far bigger measures of relief in the face of a Covid calamity, both epidemic and economic. It could take nearly 5% of GDP.
But fiscal expansion calls for a judicious strategy Indians yet to be born might look back at India’s strategy against Covid-19 and ask if we got the size and mix of our “drone drops" right, so to speak.
Broadly, we need one set of actions to snuff out the virus through anti-epidemic measures, and another set to aid people and businesses with food and money via economic tools to sustain livelihoods.
Right now, our resources are scarce, challenges steep and allocations short. Healthcare is crying out for vastly more than a snap grant of ₹15,000 crore.
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