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Recent reports predict gloomy days ahead for the overall economy

Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of the coronavirus pandemic on the economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing...

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India must enhance fiscal support for COVID-19 relief and rebuilding -Jonathan Coutinho and Amit Basole

-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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Lockdown relief reveals Purulia secret: PDS cards as loan collateral -Ravik Bhattacharya & Joyprakash Das

-The Indian Express Officials said 24 such families had approached them in Surjamata alone, a village of 150 families. Most people here work as daily wagers, owning no land and barely any possessions. Purulia (West Bengal): Bordering Jharkhand, the district of Purulia in West Bengal has zero cases of coronavirus. However, that is not the only COVID-19 story here. With the state government announcing free ration under PDS for six months to...

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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...

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100 million Indians fall through gaps in food safety net, economists urge rethink on Covid-19 relief

-Scroll.in The Central government is using outdated population figures to determine grain allocations to states under the food security law.   Millions of Indians live on the verge of hunger even in normal times. Now, with the coronavirus epidemic sweeping the world and India declaring a five week-long economic lockdown to contain it, hunger threatens an even larger population which has no income to buy food. As part of its economic central government has...

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