Think of a main battle tank coming at you. Firing a pistol won’t help. The right weapon is an anti-tank rocket.” US based Alok Jagdhari, co-founder of angel investing platform 92angels LLC, cites the analogy to illustrate the need for a big and concerted financial package to revive economies held to ransom by the coronavirus pandemic across the world. Jagdhari has prepared a pandemic survival guide for clients to show the magnitude of the problem and macroeconomic response of various countries. India is missing from the list of countries that have earmarked between 5 per cent and 30 per cent of GDP for the purpose.
“Go big or go bankrupt,” says Jagdhari. “Releasing things in dribs and drabs won’t work. Addressing MSMEs (small industries) but not other sectors won’t work.” He adds that India should earmark at least 5 per cent of its GDP (₹10 lakh crore) to begin with to support the health of its citizens and the economy. And it should be done quickly. “With each passing day, the problem will become exponentially worse. It won't go from 5 per cent of GDP to 5.1 per cent of GDP in a week, but more like 5.5 per cent of GDP,” he says. If things are not arrested at this point, a number of enterprises will simply fold up. They won’t be left alive to come back after a few more weeks.
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
Turning Over a New Leaf
The integration of mortgage giant HDFC Ltd with HDFC Bank sets the stage for making the best of both worlds
THE FLEXIBILITY TO EXCEL
By offering employees multiple ways by which they can work and grow, Google has ensured that it gets the best from them
All About 'Learning & Training'
L&T provides its employees with a variety of programmes to help them grow professionally and climb the corporate ladder