Article
Suyash Rai, Anirudh Burman
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Source: Getty
In The Media
Allocate Resources, Rationally and Efficiently
Prime Minister Narendra Modi’s speech on May 12 had two central messages: India will have to learn to live with the coronavirus disease (COVID-19), and India must pivot towards economic recovery.
By Suyash Rai
Published on May 13, 2020
Source: Hindustan Times
Prime Minister Narendra Modi’s speech on May 12 had two central messages: India will have to learn to live with the coronavirus disease (Covid-19), and India must pivot towards economic recovery.
The recovery strategy will be pursued through a package of fiscal and monetary measures and a reforms package. In some ways, this is an intensification of existing efforts. Since 2017, consumption expenditure financed by the government has grown rapidly — at an average real rate of 10.6%. Big reforms — the Goods and Services Tax (GST), insolvency reform, inflation targeting — have been implemented. India’s rank in the Ease of Doing Business index has improved from 130 in 2016 to 63 in 2019.
This article was originally published by the Hindustan Times.
About the Author
Suyash Rai
Former Fellow, Carnegie India
Suyash Rai was a fellow at Carnegie India. His research focuses on the political economy of economic reforms, and the performance of public institutions in India.
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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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