, Columnist
One Contagion Is More Than Enough for India
The country faces a double blow from Covid-19 if financing isn’t there for the recovery.
It will get worse.
Photographer: Yogendra Kumar/Hindustan Times/Getty Images
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India has chosen an odd combination of strategies in its fight against the coronavirus: a harsh lockdown on economic activity and a meager fiscal response to the loss of jobs and incomes.
What’s making this more painful is a denial of the role of finance in both containing the fallout of the outbreak and in supporting the recovery later.