Hoping most of India opens by 20th April except few hotspots. Given the reluctance of the RBI, GOI to use actual bazookas so far (for example, the 10y is still at 6.5%) I think we are slowly entering the “cure is worse than disease” territory. This is not sustainable much longer.
I agree with @ARanganathan72 we need many antibodies tests as that will show us if this virus has anyway gone through a larger than expected section of society but not harmed them, as is plausible. Our climate, demographics, some quirks of luck + lockdown *so far* have helped us.
Fact that India has the most stringent lockdown so far with one of the smallest fiscal/monetary stimulus does not add up - why are we the most stringent? Is it something to be proud of? Especially when government’s economic response so far is not commensurate with the challenge.
For the PM and FM to say do not fire people is understandable and noble, but without a serious package that enables that it is - again, so far and hence subject to change - just rhetoric. No one will be happier to be wrong. Why the suspense and stress? Need more communication.
The daily econ damage of the lockdown is massive. It is not as simple as pro rata GDP but within that order of magnitude. We are talking of dreams crushed, early deaths due to stress/suicides and yes good old poverty:we have to compare that to realistic worst case of no lockdown.
Even politically I am already noticing an early change in sentiment from solidarity to resentment. Moreover the state level political leaders especially of the opposition are happy to go along as it directs any fire towards the PM. Also, they think their GST share is guaranteed.
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