Nobel Laureate Abhijeet Banerjee has recently asked India to print more money and transfer them to the poor class of people to increase demand in the market to tackle upcoming recession post COVID-19.
Reference:
https://m.telegraphindia.com/business/abhijit-banerjee-offers-print-money-pill/cid/1763262A lot of economists will say it is a bad idea because later it will become very difficult to arrest inflation rate. But increasing the demand is a major challenge as well.
Voice your opinion! Will be good or bad step for a diverse country like India?
All the novel laureate economists are fanatic fiat system supporters and they are constantly preaching about fiscal and monetary stimulus plans,quantitative easing and negative interest rates from the central banks,lower taxes and giving more money to the poor by the governments.Every time a recession happens,they preach the same stuff.They are like doctors,who are trying to cure flu,aids and cancer using only one remedy.
Even if the Indian government gives more money to the poor,they won't spend the money right away,because of the lockdowns.Most of the small "brisk and mortar" businesses are closed.