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LATEST NEWS UPDATES | Lockdown extended: But where are the big bang fiscal stimulus measures? -Radhika Merwin

Lockdown extended: But where are the big bang fiscal stimulus measures? -Radhika Merwin

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published Published on Apr 14, 2020   modified Modified on Apr 15, 2020

-The Hindu Business Line

In a bid to curb the spread of Covid-19, Prime Minister Narendra Modi extended the ongoing lockdown till May 3. While the move was imperative to save lives, taking stock of the massive impact of the extended lockdown on jobs and livelihoods is equally critical. More importantly, the Centre will have to announce big bang fiscal measures soon, to address the fallout of the virus-induced lockdown that is costing the economy dearly.

The Centre had last announced a 1.7-lakh crore stimulus package under Pradhan Mantri Gareeb Kalyan Scheme on March 26. Not only was the fiscal package grossly inadequate to tackle the crisis, but many of the measures such as the wage increase of 20 per day under MGNREGA (already notified by the Ministry of Rural Development, earlier on March 23) and the frontloading of payment (of 2,000) under the existing PM Kisan Yojana, were already part of the Budget or routine annual exercise, and hence, it did not offer any specific additional relief to the poor.

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The Hindu Business Line, 14 April, 2020, https://www.thehindubusinessline.com/economy/lockdown-extended-but-where-are-the-big-bang-fiscal-stimulus-measures/article31338920.ece?homepage=true#


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