Stimulus to revive economy should continue for three years : Pranob Sen

Pranob Sen said when COVID-19 struck India and the lockdown began, there was already a negative momentum in the economy and capacity utilisation had gone down. The government should immediately pay off the dues of the states, beneficiaries of social sector schemes and clean its budget, he said.

PTI

October 07, 2020 / 16:59 IST

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The government should continue with the stimulus to revive the economy for three years and it should not be one off, Pranob Sen, the chairman of the Standing Committee on Statistics, ministry of statistics and programme implementation, said on Wednesday.

The improvement in economic activity at the moment is due to the pent up demand, he said at a webinar organised by Bharat Chamber of Commerce.

"What is happening at the moment is due to the pent up demand which has come to the market and has led to certain increase in economic activity," Sen, the former chief statistician of India, said.

According to him, "The government gameplan should be to continue with the stimulus for three years and not be one off".

He said when COVID-19 struck India and the lockdown began, there was already a negative momentum in the economy and capacity utilisation had gone down. The government should immediately pay off the dues of the states, beneficiaries of social sector schemes and clean its budget, he said.

COVID-19 Vaccine

Frequently Asked Questions

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A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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