In search of the right prescription

Policy predictability and an unambiguous long-term blueprint are essential for private investors

In a televised address to the nation on May 12, the Prime Minister launched the Atma-Nirbhar (self reliance) Bharat Abhiyan with a stimulus component of Rs 20 trillion, equivalent to 10 per cent of gross domestic product (GDP), to tide over the current Covid-19-related crisis. The headline number is substantial and comparable with those put together in similar circumstances by advanced economies such as the US, the UK, Japan and the European Union, where the numbers range between 10-20 per cent of GDP. He also proposed to leverage the crisis to make India self-reliant.
 
India’s Atma-Nirbhar Abhiyan therefore appears