A call to print more money: Economic Survey sees a 'V-shaped recovery'

Forget fiscal conservatism, turn on the fiscal taps, and ignore debt build-up, says Survey

In the Economic Survey for 2020-21, tabled in Parliament on Friday, Chief Economic Advisor Krishnamurthy Subramanian strongly defended the government’s actions in response to the Covid-19 pandemic, and also laid out a case for ignoring the build-up of debt and turning on the fiscal taps in the forthcoming Union Budget.

The Survey saw a “V-shaped recovery” from the lockdown-induced crash in the first quarter of 2020-21, with only a “modest decline in GDP growth in the second half of the year”, and a “faster-than-anticipated economic recovery”. The Survey further argued that a “supply-side push from reforms” and infrastructure investment, the roll-out