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Opinion | Extraordinary times call for unconventional moves to aid growth

India innovations economy Government crisis
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We need to show the same sense of discipline and determination in reviving growth as we have done in fighting covid-19 The timely action taken by the government and the sense of discipline and determination shown by India in dealing with the coronavirus crisis has justifiably evoked praise from the international community.

The same sense must be shown in the reconstruction of India’s economy. The extraordinary situation we are in calls for some unusual steps, which would not fall within the norms of conventional rescue packages.

First, the banking system is expected to face massive loan defaults, resulting in a steep increase in non-performing assets and threatening the stability of the banking system.

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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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