Details show direct fiscal costs of stimulus measures won't be large

Work from home being a new normal could help in the growth in smaller service sector MSMEs, writes Ranen Banerjee.

A 10% of GDP stimulus--wow! That was the expression I had when I heard it in the address to the nation by the prime minister. There was a clamour for a big stimulus and it could not have got any bigger. But then as the number of zeros after two settled down in my mind, I got worried as to what it would do to the fiscal math, debt stock and consequent implications on the economy. The questions that came to me were what will happen to inflation, will there be a sovereign rating downgrade by a couple of notches,