The stimulus that wasn't

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 t.....

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