India needs bigger stimulus, direct cash transfers, says Banerjee : News Reel: Business Today
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India needs bigger stimulus, direct cash transfers, says Banerjee

May 5, 2020
After former RBI governor Raguram Rajan, Rahul Gandhi on Tuesday engaged in a conversation with economist and Nobel laureate Abhijit Banerjee to discuss the economic measures India could take to help those suffering due to the pandemic and the lockdown. Abhijit Banerjee said that direct cash transfer was the only way to benefit not only the poor, but also those who had been severely affected by the long spell of lockdown. He said the government needed a mechanism with which the Centre would transfer the money to the state governments to reach the poor. "We need a large stimulus package like the US. India has announced a package that is about to 1% of its GDP and US has announced a package of 10% of its GDP", he added. Watch the video for more.



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