With the outbreak now in better control, a revival of the economy needs monetary and fiscal policy attention The government of India, under the leadership of Prime Minister Narendra Modi, has proactively announced a nationwide lockdown that has contained the spread of the covid-19 pandemic thus far relatively well.
The whole world is commending India’s efforts and bold initiatives that have prioritized “life over livelihood". The need of the hour now is to allow parts of the country to start opening up.
Governments of various countries have announced economic stimuli aggregating more than $14 trillion. In a ranking of stimulus provided by governments of major economies, India is among the lowest, at 0.8% of gross domestic product so far.
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