EVEN as the Centre seeks larger participation of people in controlling the second wave of coronavirus, it has marked the next four weeks as a very critical phase. The contagion can increase with great intensity in the next four weeks as the new mutants of the virus are spreading fast making it mandatory for the entire country to strictly adhere to COVID-appropriate behaviour. Concerted efforts by the entire society only can stop the pandemic from assuming dangerous proportion but given the casual approach prevailing in most parts of the country the task seems a big challenge. Utter disregard for social distancing and wearing mask have already put people’s lives at risk in States like Maharashtra, Punjab and Chhattisgarh. Yet, the larger society is not willing to budge. This leaves the Centre with the only option of strict containment policy as well as increase in vaccination. A jab can reduce the risk of mortality to a large extent. Instead of sticking to the rigid approach of giving jab to those who need it instead of those who want it, the Centre must take a rational call an open vaccination process for all.

 

 

ALL fiscal policies adopted by the Government of India to bail out the coronavirus-ravaged economy in the last financial year are slowly paying dividends. Its success is reflected in the outlook presented by the International Monetary Fund (IMF) which has projected an impressive 12.5 per cent growth rate for India in 2021. The growth rate is stronger than that of China which is expected to grow by 8.6 per cent in 2021. The forecast signals a big turnaround for India’s economy which had contracted by a record eight per cent in 2020 due to the pandemic. Achieving the growth rate projected by the IMF is within reach for India despite the second wave of the contagion gripping some parts of the country. Well-calibrated policies along with more corrective steps to restart a few sluggish sectors can help in staying on the growth track but these steps must be backed by further support through stimulus packages. It may see an increase in debt levels but pushing money in the system for higher liquidity is the need of the hour. These are already paying handsome returns through tax compliance and bigger yield through direct and indirect taxes. Maintaining credit-debit balance is the key here.