Irrespective of its murky origins in China, COVID is a natural disaster. Its cost must, therefore, be met through emergency government spending and not, as is being attempted now, through soft loans that the recipients will have to repay.
The 728-point jump in the Sensex immediately after the RBI announced a 0.25 per cent cut in its policy rate shows how desperately the economy was longing for a lowering of interest rates. But the absence of a further rise the next day showed that second thoughts were setting in. The market is beginning to […]