Tax cuts for individuals, companies needed to boost demand, say economists

Direct economic stimulus measures such as tax cuts for individuals and industry would have helped to prop up the Indian economy which was hit hard by the lockdowns across several states in India, say economists and corporate leaders.

While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move the needle for the economy. The loan guarantees may help the businesses  to borrow on  favourable terms but there are hardly any new projects by Indian companies--barring few projects by top steel companies, they said.

"The direct relief measures