NEW DELHI : Economists and business leaders are pitching for a massive ₹10 trillion fiscal stimulus package to support people who have lost their livelihoods and businesses on the verge of collapse because of the coronavirus crisis, a suggestion first made by Mint in an editorial on 29 March.
Former chief economic adviser in the finance ministry Arvind Subramanian has said that the government will have to spend ₹10 trillion, an amount equivalent to 5% of India’s gross domestic product, to deal with the disruption caused by the pandemic.
While money thrown about tends to inflate asset values in the West, in India, drone drops must cover mostly those who will shop rather than invest, the Mint editorial had said.