06 DEC,2020 | MEDC
The Indian economy is recovering from the ravages of Covid-19 faster than most of its global counterparts. By emphasizing fiscal prudence right from the start of the crisis, the government has also played a positive role in handling it. There is room for optimism, but no justification for any kind of complacency. Many projects throughout the country are left in the lurch, not just due to Covid but also due to political issues. This is the time to fast-track procedures to expedite project completion. Only then can infrastructure development genuinely contribute to an official anti-recession policy. A virus resurgence could yet disrupt our plans. However, our economy has shown remarkable resilience so far and there is every reason to believe that it will continue to do so. If policymakers act decisively, the long-term adverse effects of Covid could be controllable. Our economy does have some deep structural issues to overcome, but, given the political will, a sustainable turnaround can be engineered.
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