Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the..."/>
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                            <p>-The Hindu</p><p><em>Money financing is a viable route to take us back to pre-COVID-19 levels of output</em></p><p>Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the currently depressed state of the economy. Given Dr. Singh&rsquo;s deep understanding of the subject, this is in the nature of invaluable counsel. Unlike the dispensation in power, he and his colleague are for government intervention to revive the economy. They present greater public spending as the sine qua non of such a revival, and they are absolutely correct in this diagnosis. They also present the options available and rank them, in the sense of recommending the order in which they ought to be considered for use.</p><p>Greater public spending will increase the fiscal deficit and this expansion has to be financed. Theoretically it can be financed by higher taxes. However, when the economy is in a recession, this is usually not in the reckoning even though the balanced-budget multiplier is one, i.e., output expands by exactly the same amount as the increase in government spending.</p><p>Please <a href="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece" title="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece" class="re" target="_blank">The Hindu, 6 August, 2020, https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece</a><div class="clear"></div>
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                            <p>-The Hindu</p><p><em>Money financing is a viable route to take us back to pre-COVID-19 levels of output</em></p><p>Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the currently depressed state of the economy. Given Dr. Singh&rsquo;s deep understanding of the subject, this is in the nature of invaluable counsel. Unlike the dispensation in power, he and his colleague are for government intervention to revive the economy. They present greater public spending as the sine qua non of such a revival, and they are absolutely correct in this diagnosis. They also present the options available and rank them, in the sense of recommending the order in which they ought to be considered for use.</p><p>Greater public spending will increase the fiscal deficit and this expansion has to be financed. Theoretically it can be financed by higher taxes. However, when the economy is in a recession, this is usually not in the reckoning even though the balanced-budget multiplier is one, i.e., output expands by exactly the same amount as the increase in government spending.</p><p>Please <a href="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece" title="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece">click here</a> to read more.</p>                                                           
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                            <p>-The Hindu</p><p><em>Money financing is a viable route to take us back to pre-COVID-19 levels of output</em></p><p>Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the currently depressed state of the economy. Given Dr. Singh&rsquo;s deep understanding of the subject, this is in the nature of invaluable counsel. Unlike the dispensation in power, he and his colleague are for government intervention to revive the economy. They present greater public spending as the sine qua non of such a revival, and they are absolutely correct in this diagnosis. They also present the options available and rank them, in the sense of recommending the order in which they ought to be considered for use.</p><p>Greater public spending will increase the fiscal deficit and this expansion has to be financed. Theoretically it can be financed by higher taxes. However, when the economy is in a recession, this is usually not in the reckoning even though the balanced-budget multiplier is one, i.e., output expands by exactly the same amount as the increase in government spending.</p><p>Please <a href="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece" title="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece" class="re" target="_blank">The Hindu, 6 August, 2020, https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece</a><div class="clear"></div>
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How to pay for the stimulus -Pulapre Balakrishnan

Published on Aug 6, 2020   Modified on Aug 6, 2020

-The Hindu Money financing is a viable route to take us back to pre-COVID-19 levels of output Former Prime Minister Dr. Manmohan Singh and his Congress party colleague Praveen Chakravarty have, in these pages, written on the appropriate policy response to the currently depressed state of the economy. Given Dr. Singh’s deep understanding of the subject, this is in the nature of invaluable counsel. Unlike the dispensation in power, he and his colleague are for government intervention to revive the economy. They present greater public spending as the sine qua non of such a revival, and they are absolutely correct in this diagnosis. They also present the options available and rank them, in the sense of recommending the order in which they ought to be considered for use. Greater public spending will increase the fiscal deficit and this expansion has to be financed. Theoretically it can be financed by higher taxes. However, when the economy is in a recession, this is usually not in the reckoning even though the balanced-budget multiplier is one, i.e., output expands by exactly the same amount as the increase in government spending. Please click here to read more.

The Hindu, 6 August, 2020, https://www.thehindu.com/opinion/op-ed/how-to-pay-for-the-stimulus/article32279610.ece

Tagged with: MGNREGS MGNREGA Economic Stimulus International Monetary Fund IMF World Bank Monetary Financing

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