We need to think innovatively and take bold measures, such as foregoing EMI and rent payments to let the economy hibernate for three months. Here's why and how that will work
From cautious to bold steps
Covid-19 has brought the world to a halt casting a spell of doom over business. The impact of the great financial crisis of 2008, too, was expected to be highly devastating and prolonged. But the world recovered quickly. Contrary to past practice of using contractionary policies in crisis-hit countries, extensive use of expansionary policies reined during the 2008 crisis to buoy the buying sentiment.