Nobel laureate and economist Abhijit Banerjee on Tuesday reported the national lockdown has in truth designed a havoc on the economic front and that the authorities is not distinct how considerably it is prepared to devote on a stimulus bundle as one for every cent of GDP is not enough to lift the condition. “A large amount of us have been expressing that we want a stimulus bundle. That’s what the US is undertaking, Japan is undertaking, Europe is undertaking. We seriously haven’t determined on a big enough stimulus bundle. We are however talking about one% of GDP. United States has long gone for ten% of GDP, ” he reported.
Banerjee in a virtual discussion with Rahul Gandhi, reported the authorities did a suitable issue in placing a moratorium on financial debt payments and that it can do extra than that by cancelling financial debt payments for this quarter completely.