-The Hindu The trend across developing countries is to give State governments as much discretion as possible India urgently needs to increase fiscal support for COVID-19 relief and rebuilding. Among comparable developing countries with similar Gross Domestic Product (GDP) per capita, India has spent the least as a share of its GDP. While the Central government has announced measures amounting to 0.8% of GDP, the International Monetary Fund (IMF) estimates that State-level relief...
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India needs a strong fiscal stimulus -Pulapre Balakrishnan
-Hindustan Times Plan for a Rs 20 lakh crore-stimulus. It is needed for both immediate relief and economic revival India has seen among the most stringent prevention responses to the coronavirus disease (Covid-19) so far. With a complete lockdown for three weeks already, and a further 19 days added on Tuesday, it has hit the maximum in an index of stringency designed by the United Kingdom’s Overseas Development Institute. But its economic...
More »Economic liberalisation and its faults -KM Gopakumar & Ranja Sengupta
-The Hindu The virus reveals how dependence on private sector-led economic growth has proved to be disastrous Dr. Manmohan Singh’s 1991-92 Budget speech marked the beginning of the end of the ‘Licence Raj’ in India. The Budget also announced the reduction of Import duties and paved the way for foreign-manufactured goods to flow into India. Following this, most of the manufacturing sector was opened up to foreign direct investment. India’s industrial policy...
More »An Expert Explains: Cyber frauds trying new ways, it’s Important to secure data, accounts -RK Vij
-The Indian Express A few people are attempting novel ways of defrauding innocents using information and technology. Money is being siphoned off using fake accounts and exploiting vulnerabilities of various applications. The COVID-19 outbreak presents a global challenge not just for the medical fraternity and society, but for law enforcement agencies also. Cyber crime, like a pandemic, knows no state borders. A few people are attempting novel ways of defrauding innocents using...
More »Lockdown extended: But where are the big bang fiscal stimulus measures? -Radhika Merwin
-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...
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