Jumpstarting Post-Coronavirus Economy

P. Chidambaram, Meghnad Desai, Bimal Jalan, D. Subbarao, and Junaid Ahmad on how to get the GDP going

- Raj Verma, Joe C. Mathew, Dipak Mondal And E. Kumar Sharma

The only way to control the raging global coronavirus pandemic, the biggest health crisis of our times, is to switch off the global economic engines through a complete lockdown and social isolation. The resultant economic pandemonium, though, is the last thing that governments want – or can afford. The dilemma leaves nations performing a balancing act, of finding answers to a very complex problem that needs health, social and economic solutions, all at the same time.

Business Today brings together five renowned names in macroeconomics, public administration and public finance for their views on how to re-start India’s post-lockdown economy when restrictions are lifted, even as the country continues to fight the disease outbreak. Here are their prescriptions.

“GIVE CREDIT, WORKING CAPITAL, EXPORT SOPS, FISCAL INCENTIVES. NOT SEQUENTIALLY, BUT SIMULTANEOUSLY”

The minimum amount required immediately is ₹5-6 lakh crore. We may need more

P. Chidambaram, former finance minister

What can be done to restart the economy? What should be the first steps post-lockdown?