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?
I would say it is a good step for most countries out there.
Because what does govs by printing more money is actually taking away some value from every money out there a little bit and then give this whole amount to some certain type of people.
In case of US it is an adequate decision to give 'em out to literally every US citizen just because there are foreign holders out there who will suffer the most.
In case of India it is a good decision because if they're going to give out to poor class of people then the rich people are going to suffer (which is not that big of deal - they're going to get their money back from their businesses after surge in demand)