To Revive Economy Govt Could Massively Boost Consumption With Just Rs 4750 crore. But Will It Do So?

One of India’s most highly regarded economists has said the economy’s “revival strategy…has to be consumption-led” because “private final consumption expenditure fell more sharply than GDP” in 2020-21. To do this, Soumya Kanti Ghosh, the Group Chief Economic Advisor of the State Bank of India, has suggested two simple and straightforward schemes which, he says, will together boost consumption by 3.3 lakh crore but only cost the government 4750 crore. Like our work? Click here to support The Wire: https://thewire.in/support The founding premise of The Wire is this: if good journalism is to survive and thrive, it can only do so by being both editorially and financially independent. This means relying principally on contributions from readers and concerned citizens who have no interest other than to sustain a space for quality journalism. As a publication, The Wire will be firmly committed to the public interest and democratic values. We publish in four different languages! For English, visit www.thewire.in for Hindi: http://thewirehindi.com/ for Urdu: http://thewireurdu.com for Marathi: https://marathi.thewire.in If you are a young writer or a creator, you can submit articles, essays, photos, poetry – anything that’s straight out of your imagination – to LiveWire, The Wire’s portal for the young, by the young. https://livewire.thewire.in/ You can also follow The Wire’s social media platforms and engage with us. Facebook   / thewire     / thewirehindi     / thewireurdu     / thewiremarathi   Twitter   / thewire_in     / thewirehindi     / thewireurdu     / thewiremarathi     / livewire   Instagram   / thewirein     / livewirein   Don’t forget to hit the subscribe button to never miss a video from The Wire!