CEOs and economists suggest ways to revive India's economy - Photos-1
Business Today

CEOs and economists suggest ways to revive India's economy

Esther Duflo
Winner of the 2019 Nobel Prize in Economics


India should not raise taxes as it could have a multiplier effect. Slashing taxes is risky because, if you do so, where will the money you need to spend on public expenditure come from? Cutting public expenditure in the middle of a crisis is not a good idea. I don't see any quick solution. The key is to manage, keep public expenditure right. It's not just about public expenditure but increasing effectiveness. Universal Basic Income could be tried out. It gives people assurance. That, I think, will give people confidence to do new things to improve their lives.
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