View: Even with GDP slide\, GoI must commit to reduce the overhang of its borrowings

By Viral AcharyaWith the scale of GDP contraction due to the Covid-19 pandemic now confirmed, the urgency of providing immediate relief to the most affected citizens and states has risen. Does the trick to create additional space for this short-term expenditure lie in the government rebuilding medium-term commitment to reduce the overhang of its borrowings on future growth?There is a powerful, yet beautifully simple, principle in economics