In the corona crisis, India appears to have taken the most stringent social actions and least convincing fiscal measures among major countries so far.
We need to up our response fast As the global economy heads for a steep recession amid a self-imposed shutdown to contain this outbreak of coronavirus, countries around the world are injecting massive doses of fiscal stimulus to salvage what they can of their economies.
Some hope for a V-shaped recovery once it blows over, though they would perhaps be lucky to get U-shaped returns to their growth trends.
But what about India? The relief spending that we have announced so far pales in comparison with the money other big countries are set to pump around.