India needs to increase fiscal stimulus to revive economy: Pronab Sen

The government in May announced a staggering Rs 20.97 trillion economic package, or about 10 per cent of GDP, which included Reserve Bank's Rs 8.01 trillion crore worth of liquidity measures

Former chief statistician Pronab Sen on Tuesday said the government should increase fiscal stimulus to revive the Covid-19 hit economy.

Sen said that as the lockdown has been lifted, the country should move into the revival phase.

"We need to increase fiscal stimulus ...  the monetary policy has done heavy lifting and now heavy lifting will be done by fiscal stimulus," he said while addressing a webinar organised by CII and Institute of Economic Growth (IEG).

The government in May announced a staggering Rs 20.97 trillion economic package, or about 10 per cent of GDP, which included Reserve Bank's Rs 8.01