The Covid-19 lockdown relief package announced by GoI on March 26 — to be reportedly followed by a second one soon — is a good start. But compared to other countries, it is very low. Recognising that government budgets are stretched, and that the current crisis will further affect receipts of both state and central governments, one must think of innovative financing mechanisms. One possible way is to mobilise funds through tax-free ‘Covid bonds’ of denominations ranging from ₹10,000 to ₹10 lakh. More details in the article.
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