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Opinion | Our fiscal dose needs to be adequate for the task
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Capping the size of India’s stimulus package at 2.5% of GDP or less would not serve India well. We ought to focus on what’s needed to revive the economy—and arrange funds for it As the country begins a phased withdrawal from its lockdown, extended for a fortnight with a maze of rules designed to ease curbs in various zones colour-coded by corona risk, it is time to accept that the odds of averting a covid contraction of the economy this year have also lengthened.
We are in for the long haul, major uncertainty clouds the outlook, risks are hard to price, and our recovery in output will be slow.
Given the intricacy of production networks and the complex easing of restrictions, one cannot count on a smooth run ahead. In such circumstances,
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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
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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