How can the government stabilize the economy of India amid COVID-19 crisis

Discuss some effective measures that the Indian government can implement to provide economic stability in the wake of the COVID-19 pandemic.
The COVID-19 pandemic has hit India's economy hard, leading to job losses and a decrease in demand. The government must implement effective measures to stabilize the economy. Here are some steps that the Indian government can take to achieve this:
  • Providing direct cash transfers to the most vulnerable sections of society to ensure they can sustain through the crisis.
  • Launch infrastructure spending to boost the economy and generate employment opportunities.
  • Provide tax relief to small and medium businesses, which will help them to regain their footing and contribute to economic growth.
  • Strengthen the healthcare system, upgrade facilities and provide financial support to front-line workers will create more job opportunities and help build community well-being.
  • Provide interest rate cuts and deferment of loan repayments to alleviate the financial burden on businesses and individuals
The government must also work towards speeding up the disbursement of funds for welfare schemes and encourage more private investment in the economy to promote growth and stability.
Answered a year ago
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