A bold economic relief package needed as lockdown eases

When economic activity gets permitted as the lockdown is eased, the need for relief measures for economic revival would be acutely felt. The relief packages in the US and Europe are unprecedented in size. The bigger ones range between 10-20 per cent of GDP. There is a growing consensus that India needs a large package and should not be constrained by concerns about the fiscal deficit. The relief package should generate additional demand for domestic goods and services that is large enough to kick-start the economy after the lockdown.