Cash transfers won’t help economy: Rajiv Kumar, Niti Aayog

Niti Aayog’s Vice Chairman Rajiv Kumar

Synopsis

“The only good question that remains is about the nature of the fiscal stimulus, and I quite strongly feel that we don’t need helicopter money in the economy at this stage. If you try and boost consumption at this point of time, you may well find that the needed supply response may not be forthcoming and the capacity utilization may not rise.”

The impact of the second wave of Covid-19 will lead to lower than estimated growth in Q1 but the Indian economy will gather steam from July onwards as daily infections decline and states begin unlocking says Niti Aayog’s Vice Chairman Rajiv Kumar in an interview to ET Now. Kumar adds that he doesn’t agree with those who are lowering GDP estimates in such a hurry. He maintains that the government recognizes the need for a stimulus to support the

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