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The relief package for households doesn’t bring relief in the long term

India pandemic economy Government strain
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See these relief measures as a stop-gap arrangement to be used in dire circumstances With the lockdown extending well into the fourth phase, the Indian economy has taken a huge battering and so have our salaries and income.

From salary delays to pay cuts to furloughs to job cuts, most of us are experiencing the pain in some form. The government and the central bank have been announcing measures to alleviate the pain of the households, but largely, these measures address the immediate liquidity needs, if at all, and can be counter-productive in the long run.

Take the case of the three-month loan moratorium that allows you to take a break from paying your equated monthly instalments (EMIs).

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COVID-19
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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