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This has dramatically affected the Italian economy in the last 20 years, (since the fiscal consolidation began), with an average structural gap of 1% GDP below the Eurozone each year. In other words, with good deficit to GDP ratio Italy can commit to repaying its creditors each year, but is struggling to reduce the stock of debt (which has been stabilised but is still at a high level). Thus if a shock hits the economy the debt may become explosive (though at the moment it is under control)..

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India was among the first to wake up to the threat of the pandemic by screening passengers, stopping flights and enforcing a nationwide lockdown. When the nation emerged as a prescient and responsible nation globally in having taken pre emptive measures to stop the spread of the virus, the Opposition called the lockdown sudden, harsh and unilateral. If it was not for the lockdown, we would have found ourselves in the same boat as many of the more developed nations where more than thousands have been dying every day..

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