Economics
India Central Bank Chief Calls for Fiscal Support to Economy
A motorcyclist travels during a partial lockdown in the Gautam Buddh Nagar district of Uttar Pradesh, on April 21.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
India’s central bank Governor Shaktikanta Das underlined the need for fiscal measures to support the economy, saying a slippage in budget gap target was unavoidable amid the coronavirus crisis.
The government is working on an economic package to tackle the impact of the virus, Das told Cogencis newswire in an interview whose transcript was released by the Reserve Bank of India Monday. Meeting the fiscal gap goal for the financial year started April 1 -- 3.5% of gross domestic product -- was very challenging and he expects the government to make a judicious call on managing the deficit.