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Opinion | 20 Ts to fund 4 Ls, and the grumble about its source
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There are many plus points in the package, but there is disappointment about reforms We’ve gone from asking for a 10% of GDP covid-19 relief government plan to a grumble about the announced ₹20 trillion package (which is 10% of GDP) being just 1% of GDP, because the fiscal (what the government spends out of its annual budget) spend is only ₹2 trillion.
We seem to care about where the money is coming from and not where it is going and what it is going to do. A basic question first: why does the government need to spend its way out of this crisis?
The covid-induced lockdown has caused both a demand and a supply side shock to the system. This situation needs an external entity—the government—to give lifelines of both income, cheap foodstuffs
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COVID-19
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