Covid-19 may be 'act of god' but cleaning balance sheets is human task

Even though Covid-19 is an act of god, cleaning up balance sheets is central to Indian economic growth

It is only human to feel sympathetic towards firms which are adversely affected by the Covid-19 shock. But there is no free lunch: If we are kind to borrowers, this comes at the expense of lenders, and it is not as if the lenders in India are in great shape either. To be an organisation is to constantly analyse the world, and respond to shocks, large and small. A healthy market economy is one with high flexibility of resource allocation, where firms change their processes, and experience birth and death, swiftly. Now that the dust has settled after the early