Nirmala Sitharaman’s 5-part package could be a 1991 redux
Analysts and economists criticising the Indian Finance Minister's stimulus-cum-reforms package are missing the woods for the trees. As increased liquidity improves the velocity of money, the economic growth engine could well start purring once again. The Indian stock markets have crashed about 5 per cent over two days following the announcement of a $290-billion stimulus-cum-reforms package by Finance Minister Nirmala Sitharaman. The reason? A series of reports by global and Indian research agencies that claim the package is really worth [...]