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Opinion | Ease legal constraints on fiscal expenditure
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A few tweaks of the law must go alongside calculations of a stimulus package designed to relieve economic distress. The government should act on these quickly to save the day The longer the Centre dithers over a big-bang fiscal package to counter the adverse economic fallout of covid-19, the closer it risks pushing India’s economy to the precipice of disaster.
The nationwide lockdown has more or less paralysed commercial activity, our exit path looks dreadfully long-winded, and the distress being seen right now could just be an early sign of what is to come.
The suffering of citizens will likely expand once the shutdown’s second-order effects, which operate with a lag, begin to kick in.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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