Discuss the measures that are required to be taken by the central government to tackle the economic challenges during the pandemic.(200 Words)
Refer - The Indian Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· A real GDP growth of 7.8 per cent would be required in 2021-22 to reach back to 2019-20 real GDP levels.
· It is also important to consider nominal GDP growth for 2021-22 since that would be a critical determinant of fiscal prospects.
· In the light of supply-side and cost-push pressures, the RBI has projected CPI inflation at 5.1 per cent.
· The government and the RBI are keen to keep the interest rate low despite this heavy borrowing.
Centre needs to do
· An increase in the provision for income support measures for the vulnerable rural and urban population.
· This would require an amount of Rs 1 lakh crore which may be partly provided through expenditure restructuring.
· In light of the recent decision, the budgeted expenditure on vaccination of Rs 0.35 lakh crore ought to be augmented, at the very least, doubled.
· Additional capital expenditure for select sectors, particularly healthcare, should also be provided for. This may be another Rs 1 lakh crore.
· Government need to plan for a fiscal deficit of about 7.9 per cent of GDP.
· The household sector’s appetite for financial assets may not increase. The external sector’s demand for Indian sovereign bonds may also be lukewarm.
Abdul hakkim 3 years
Please review mam/sir
IAS Parliament 3 years
Try to include data to support your arguments. Keep Writing.
VINONA KARMY 3 years
Kindly review.Thank you
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IAS Parliament 3 years
Good attempt. Keep Writing.
Venkateshwaran R 3 years
Kindly provide feedback
IAS Parliament 3 years
Try to include about measures taken by government as a separate heading, which forms the core part of the answer. Keep Writing.
Venkateshwaran R 3 years
IAS Parliament 3 years
Measures are written separately, writing under one heading improves interconnection of different aspects and improves coherence in the answer.
Cibi Siddharth 3 years
kindly review and provide suggestions sir/mam
IAS Parliament 3 years
Good answer. Keep Writing.
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