The headline point of the prime minister’s 35-minute sonorous address to the nation – his fifth since the Covid-19 lockdown began -- was a Rs 20 trillion economic package with its alliterative focus on “land, labour, liquidity and laws”. What exactly does this massive spending entail? The granular details are awaited from the finance minister. Meanwhile, today’s opinion pages focus on the mundane: finance and infrastructure. Kanika Datta sums up the views
China has started pilot runs for a digital yuan, says Shyam Saran, and its monetary system could well become an exemplar for countries around the world. Read it here
With the government announcing that it will borrow 54 per cent more than planned Errol D’Souza and Astha Agarwalla explains why RBI should not directly finance government borrowings. Read it here
Building roads is a good thing but Covid-19 has shown the limitations of the country’s medical infrastructure.
This urgently needs to be augmented in the months ahead too, says the top edit here
The idea of a bad bank rears its head again as the NPA crisis is expected to balloon. The second edit explains why this is a bad idea. Read it here