homevideos Newseconomy NewsSteps Modi govt should take to boost economy: Here’s what ex PM Manmohan Singh has to say
Steps Modi govt should take to boost economy: Here’s what ex-PM Manmohan Singh has to say
Former Prime Minister Dr Manmohan Singh and Praveen Chakravarty, chairperson of Congress' Data Analytics Department has suggested that a direct cash transfer into the hands of non-agriculture workers, who have been hit hard due to the lockdown, will help restore confidence and boost the economy.
Dr Singh and Chakravarty, who co-authored an opinion piece in The Hindu, have written that India cannot afford to be fiscally restrained in these times and therefore, higher borrowings by the government are inevitable. Dr Singh and Chakravarty wrote, “There is a misplaced sense of apprehension that providing large cash assistance may deter people from returning to the workforce.”
They suggested that deficit monetisation should be an option which the government should adopt only as a last resort.
To talk more about the steps that the government could take to boost economic activity, CNBC-TV18 spoke to Praveen Chakravarty.
Watch the video to find what he had to say.
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