Size matters. Or does it? It depends on which side of the fence you are on. Ask the government, and it contends that it has unleashed a cocktail-combination of highly-effective economic drugs to ensure immediate and efficient recovery. Talk to the opposition, and it claims that the grandiose policy package is a case of too little, too late. The fact is that none of them stand on firm ground because this is the worst crisis in a century. None of us have seen something like this before; hopefully, none of us will in the future.
One of the points of contention is the quantum of money that the policy makers say that they have injected to kick-start the economy—Rs 2,000,000 crore, the fifth largest among all the nations. The second point of debate is the mix. Is it a judicious blend that has enough stimuli to drive up the knocked-out supply of goods and services, and pull back consumption that’s down in the dumps? Finally, there is the question of timing—is this the right time to push through big-bang reforms down the dying system’s...

THIS ARTICLE IS PRICELESS...
To read this piece, and more such stories in India's most exciting and exacting magazine, plus get access to our 25-year archives goldmine, please subscribe.