Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as a result of animal spirits.... Thus if the animal spirits are dimmed and the spontaneous optimism falters, leaving us to depend on nothing but a mathematical expectation, enterprise will fade and die...
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money in people’s hands. This should alleviate a demand slowdown. The Q1 growth numbers for FY20, to be out on August 31, will help gauge the severity of the slowdown. Structural reforms, rather than merely a stimulus, are the permanent solution. That is where the experience of our Asian peers will come handy. ( Graphics by Abdul Shafiq)