The missing policy

Economic activity in India is picking up from the lockdown lows and some of the high-frequency indicators suggest that the level of contraction is reducing. But a more meaningful recovery is still a long way off, going by the concerns over the uncertainties ahead. Once the spread of the virus subsides, the nature of the economic recovery would depend on policy support. The government in May announced an economic package worth about 10 per cent of gross domestic product (GDP), along with various other initiatives. To the government’s credit, action has been initiated on most elements of t.....

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