India's economic policy response to Covid-19 lags global peers: Edelweiss

"We think Indian policymakers must catch up and that too in a short time," analysts at the brokerage firm wrote.

With the coronavirus (Covid-19) casting its shadow on the global economy, most governments and central banks have initiated a strong policy response to battle the pandemic. Analysts at Edelweiss Securities, however, suggest that India has not done enough compared to its global peers to combat the situation. 

The macroeconomic response so far since the outbreak of the Covid-19 pandemic, they feel, pales in comparison to what has happened globally so far, or even compared with the policy steps undertaken by India during the global financial crisis (GFC). For instance, in 2008 (GFC), the RBI had cut the cash reserve ratio