MUMBAI: Equity strategists and economists are concerned that Prime Minister Narendra Modi’s US$265bil stimulus to cushion the economy during the coronavirus pandemic has focused on boosting liquidity rather than demand in the fragile economy.
Almost half of the rescue package – equivalent to 10% of gross domestic product – comprises monetary measures announced since February, while Finance Minister Nirmala Sitharaman on Wednesday offered US$72bil in credit lines to small firms, shadow banks and electricity distributors.
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