The Indian government recently announced an economic relief package worth Rs 20 lakh crore to help ail the economy. The government announced new policies and guidelines to help the industries and privatized almost all sectors.
India’s huge relief package has not impressed analysts at the global research firm AB Bernstein.
Analysts at the global firm said there were many generic announcements in the package which should have been the part of a normal economic agenda. They said while the relief package began on some important aspects but the need to declare estimates that signify this top-down number made the whole package seem aimless.
The firm added they see it as an overall lost opportunity. The analysts at the firm added that the package failed to announce any solid substantial decisions which would help promote manufacturing and support consumption, the two things which are needed to revive the economy.
The analysts at the firm lauded few of the decisions taken through like fresh credit guarantee of credit for small businesses and extension of the employment guarantee program and other measures like provision of food for migrant workers and poor of the country.
The firm added that the package wouldn’t have enthused many investors as it does very little to support the economy in the near term.