Pragmatic fiscal stimulus that nudges households to spend
The desire is to not upset the fiscal cart too much and spend as if every rupee matters
A far more confident, poised and assertive Nirmala Sitharaman looked nothing like the fumbling finance minister just a few months back when she announced the first fiscal package. The almost ₹1 trillion of spending plus infra push announced can be criticized by arguing that the government is not really spending anything much. And where is the ₹10 trillion that all the NRI economists are so fond of recommending? But if we stop being attached to seeing an actual spend from the government coffers and look at what the FM is trying to do, putting our political biases aside, then the story that emerges looks like this to me.