India needs a big stimulus package
NEW DELHI: The Nobel Prize-winning economist said India needs a large amount, with cash transfers to the bottom 60% of the population, to restore the ability to pay that will revive demand, adding that lack of demand has been the ruin of Indian economy which has been further aggravated by the coronavirus crisis. He also called for a debt waiver for the financial quarter and to give states money to launch new welfare plans.
In a video interaction with the leader Rahul Gandhi Banerjee said India was trapped with 1% of GDP as an aid package, while the world, including the United States, has kept 10% of GDP. Banerjee, who was looking for cash transfers, said the US administration. USA It is run by a group of financiers who worked in the financial sector and not by liberals, yet they have decided that only for economic survival we need to inject money into the hands of the people. He added: I think we should follow suit. He said the Center should issue ration cards and give food grains to anyone who wants it.