India’s package as a percentage of GDP is comparable with that of China and Italy. More stimulus measures are likely in the coming days as the govt has adopted a phased rollout approach.
By ET Bureau | Updated:
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Most major economies have rolled out stimulus packages, which, if fully implemented, could in some cases exceed 15% of their GDP. India’s package as a percentage of GDP is comparable with that of China and Italy. More stimulus measures are likely in the coming days as the govt has adopted a phased rollout approach.
1) World Bank has said India needs a bigger stimulus. Support worth 0.85% of GDP has already been announced by the government. Here’s the global comparison.
2) Central banks also pitching in. Here, India’s rate cut has been the sharpest. But India’s pre-crisis rate of interest was much higher than in other countries.
3 ) Breaking down the stimulus packages, we see there are direct payments to individuals 3 & cos for immediate relief. Here again, India is expected to announce more measures.
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