Economics
$277 Billion Package May Not Give Immediate Boost to India
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India’s 21 trillion rupee ($277 billion) virus-relief package fell short of economists’ expectations, providing fiscal measures that will help improve growth over the years without delivering an immediate boost to an economy that desperately needs it.
Analysts have been pouring over the details provided by Finance Minister Nirmala Sitharaman over the past five days, and the conclusion of many is that the additional spending boost is far less than the 10% of gross domestic product that the headline number suggests. HSBC Holdings Plc estimates a fiscal cost of just 1% of gross domestic product.