Rebuilding economy post COVID requires a long term strategy
August 29, 2020
The worldwide economy is in downturn, and it is anticipated to be more dangerous than the Great Depression of 1929 and the Global Financial Crisis (GFC) of 2007. India also has been hit hard many millions have lost their positions, and the economy is extended to recoil by 4-9% in 2020-21.
The last time the Indian economy shrunk by over 5% was in 1979 when the whole nation was crushed by a once in a century dry drought (and a few areas with floods).
A characterizing highlight of the current financial emergency is the remarkable financial and fiscal upgrade packages being turned out by the administrations to give alleviation and restore the economy. As per the International Monetary Fund, the all-out improvement package for G20 nations found the middle value of 12.1% of GDP commonly more than GFC.