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Opinion | Clarity please

India pandemic economy Government crisis
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As the scale of the covid crisis has become clearer over the past three weeks, a revision was only to be expected On Monday, the Reserve Bank of India (RBI) raised the limit on short-term funds the government could draw to meet its immediate expenses to ₹2 trillion for the first half of 2020-21.

On 31 March, RBI had upped its cap on these ways and means advances (WMAs), as they’re called, to ₹1.2 trillion from ₹75,000 crore for the first half of 2019-20.

As the scale of the covid crisis has become clearer over the past three weeks, a revision was only to be expected. On Friday, RBI had granted Indian states more room to borrow such money under this stopgap facility meant for administrations that are momentarily short of cash.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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