India's (im)possible road ahead

Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” — Saint Francis of Assisi. The economic crisis caused by Covid-19 has so far triggered three policy moves from the central bank and two from the central government. Various steps have been debated and an­nounced, but much more needs to be implemented and tried. Here we map out what the next steps should be. But first, a look at the pain points in the economy. India’s balance sheets are not in good shape. The debt-to-equity ratio of corporate India .....

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