View: The latest round of stimulus is welcome but more needs to be done to revive growth

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It may still be possible to inject one more round of stimulus, perhaps in the beginning of the last quarter of FY2021, even if it requires enhancing the currently planned borrowing programme.

Synopsis

With a pent-up demand in the system, it’s only appropriate that the package focuses largely on the supply side of the economy. If some of the supply-side bottlenecks can be removed, it would help not only stimulate growth and employment but also keep inflation in check.

By D K SrivastavaThe latest stimulus package announced by the finance ministry on November 12, dubbed ‘Atmanirbhar Bharat 3.0’, reportedly amounts to Rs 2.65 lakh crore — about 1.4% of the FY2021 nominal GDP projected by the International Monetary Fund (IMF). Coming a few days ahead of Diwali, this injection into the economy was well-timed. With a pent-up demand in the system, it’s only appropriate that the package focuses largely on the supply

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