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Many think that the Narendra Modi government has spent a lot this year, especially to mitigate issues faced by people in the wake of the coronavirus pandemic. But has it? It’s true that the government has announced stimulus packages to the tune of Rs 30 trillion. But if one were to make a like-to-like comparison, the govt expenditure this year (till October-end) was at roughly the same level as that seen in the same period last year. Given that expenditure was budgeted to be 13 per cent more this year, it is imperative that the finance minister spend more to expedite economic recovery. But where should she spend? Infrastructure, many say. Yes, of course the government should spend on infrastructure, but will that yield immediate benefits? ....
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