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No more loans, what the consumer is really looking for is a tax holiday

It's time the focus shifted from enhancing supply to improving demand

Topics
Coronavirus

At a time when the economy is likely to see a severe contraction, we continue to apply band-aid. There was hope after Prime Minister Narendra Modi announced a Rs 20-trillion package, roughly translating into 10 per cent of the Gross Domestic Product. Finance Minister Nirmala Sitharaman's Rs 21 trillion largesse doesn’t translate into more cash-in-hand for most.

For example, the Rs 3-trillion central government guaranteed credit line for micro, small and medium enterprises (MSME) sounds great. After all, there will be a moratorium of one year. But the interest will accumulate ...

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First Published: Tue, May 19 2020. 19:31 IST