The Rs 21-lakh-crore stimulus package is not enough to revive the economy. The government has been reluctant to increase spending substantially due to fears of rating downgrade. However, we may need one more stimulus package in the coming months. The next package could focus on GST rate cuts, wage support in some form, and higher spend under MNREGA,” Anagha Deodhar, Economist at ICICI Securities said in an interview to Moneycontrol’s Sunil Shankar Matkar.Edited excerpt:Q: What are your thoughts on RBI policy and was it the need of the hour?Close We did expect more rate cuts by the RBI and use of more unconventional measures. The repo rate is now at an all-time low. This was the second off-cycle rate cut, it shows the urgency with which the RBI thought it needed to act. However, we remain sceptical about the effectiveness of rate cuts in stimulating demand in the current situation. related news Coronavirus wrap May 29: Jharkhand airlifts migrant workers from Leh; India’s COVID-19 death toll surpasses that of China Business Insight | Decoding GDP numbers Rice sowing not progressed much after April 10: Agriculture Ministry data Q: Most experts feel there could be more pressure on banks after six… Read full this story
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