Helicopter Money
- With no quick escape in sight for Covid-ravaged economies, authorities the world over are going back to the drawing board to find strategies to deal with this nightmare. In India, Telangana chief minister suggested printing of currency and called for implementing a ‘Helicopter Money’ scheme.
Key Points
- Telengana CM urged theCentre to make RBI pump at least 5% per cent of Gross Domestic Product (GDP) which was ₹203 lakh crore.
- At this rate, the RBI could inject ₹10 lakh crore into the economy. Otherwise, neither the Centre nor the State governments had the money to revive the economy.
- Citing the example, he ....
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