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LATEST NEWS UPDATES | Phasing out India's Lockdown Is Essential, but With More Nuance Than What's Been Done So Far -Prem Shankar Jha

Phasing out India's Lockdown Is Essential, but With More Nuance Than What's Been Done So Far -Prem Shankar Jha

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published Published on Apr 25, 2020   modified Modified on Apr 26, 2020

-TheWire.in

A market economy is not an automobile that can stop and restart at the touch of a button.

When Prime Minister Narendra Modi announced a total lockdown of the country to fight COVID-19, he did it perhaps with one idea in his mind. The spread of the virus had to be stopped first, no matter what it cost the economy. A trade-off between saving lives and saving incomes was unavoidable and lives had to come first.

What he, therefore, imposed on India was, according to an Oxford study of 73 countries, one of the most stringent lockdowns in the world.

Was Modi wrong in doing so? A month into the lockdown, that trade-off has not yielded the quick results that he may have hoped for. There can be no doubt that it has slowed down the spread of the virus. But it has not stopped it. The number of new cases registered every day is still rising, and a turndown is not yet in sight.

Please click here to read more.


TheWire.in, 25 April. 2020, https://thewire.in/economy/india-lockdown-fiscal-policy


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