Its slew of sectoral reforms and enhanced allocations are good news. It should grant itself greater fiscal leeway, though, to spur demand and thus give our economy an instant boost Will our economy contract this year?
Ask economists, goes an old quip, they had correctly predicted seven of the last three recessions. Chastened by such ribbing, many began hedging their forecasts, preferring to put out gloomy numbers only in dribs and drabs, gingerly, as evident during this crisis.
To be fair, little is foreseeable on India’s economic front. We have flashes of hope amid clouds of despair. Even cheery news emerges only in bits and pieces.