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The stimulus that wasn't

The bulk of Ms Sitharaman's proposals addressed supply problems, with only occasional and cursory references to demand, mostly as an afterthought

Topics
Coronavirus | Stimulus package | Lockdown

Shreekant Sambrani 

Shreekant Sambrani

Finance Minister Nirmala Sitharaman strove hard over five days ending May 17 to present what was called a Rs 20-trillion stimulus to the coronavirus-hit economy, after Prime Minister Narendra Modi announced it on May 12. It was at best a hastily sketched road map for a post-Covid de-globalised India and of a piece with her last Budget: A laboured hodgepodge of tried and often failed schemes.

But it certainly wasn’t a stimulus package as is commonly understood, nor did it add up to Rs 20 trillion as expenditure to the exchequer. She paused, repeated herself and pointed to ...

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First Published: Mon, May 18 2020. 23:07 IST
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