India's (im)possible road ahead

Better implementation of policy measures and reaching out to those left behind are needed next

Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” — Saint Francis of Assisi.

The economic crisis caused by Covid-19 has so far triggered three policy moves from the central bank and two from the central government. Various steps have been debated and an­nounced, but much more needs to be implemented and tried. Here we map out what the next steps should be.

But first, a look at the pain points in the economy. India’s balance sheets are not in good shape. The debt-to-equity ratio of corporate India has been rising and is