Fiscal conservatism must not get in the way of a big spending package to relieve a country reeling under a harsh lockdown The draconian nationwide lockdown, perhaps the most stringent in the world, which completed 40 days on 3 May, has been extended further until 17 May, with some relaxations in some districts.
It could continue for longer. This has helped flatten the curve, although there is no downturn yet. But it did shut down almost two-thirds of all economic activity, imposing massive hardships on migrants in cities and the poor everywhere.
The impact on micro, small and medium enterprises (MSMEs) has been devastating. And, ironically enough, state governments, at the front lines of the battle against covid-19, have experienced a