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Opinion | Look beyond Keynes and Friedman to revive the economy

China Usa India economy Government crisis shock
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Both fiscal and monetary easing could help India overcome the risk of a covid-19 contraction The coronavirus-induced economic shock has led many analysts to predict that the Indian economy will contract in the first half of this fiscal year.

Not just India, but the whole world is expected to slip into contraction. China, for instance, saw its economy contract by 6.8% in the past quarter.

Unemployment filings in the US have risen to highs unseen since records began. Both the demand and supply sides of the economy have been shocked.

Discretionary consumer spending has almost been non-existent since the lockdown began, with only non-discretionary spending—on essentials—somewhat surviving the curbs.

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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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