Economic package a lost opportunity; FY21 GDP to contract 7%: Bernstein

The overall plan, in their view, was a general economic agenda and lacked substantive decisions to support consumption, promote manufacturing.

The stimulus package announced by the government over the past few days is a lost opportunity, said analysts at Bernstein – an investment management firm based in the United States with nearly $623 billion in assets under management (AUM) globally. Their estimates for FY21 GDP contraction in India are the sharpest as compared to other foreign research houses such as Goldman Sachs and Nomura.

The desire to announce a large economic package, something that shows the world that they care about the economy and are willing to match global stimulus numbers, was perhaps the driver for the claim of a large