Reportedly the central government has been under fire by the opposition ever since the Covid-19 pandemic hit india over the economic crisis unleashed by the nationwide lockdown. However, 71 percent of the citizens have rated the modi government's handling of the economic distress caused by Covid-19 as 'outstanding' or 'good'. According to the findings of the bi-annual Mood of the Nation survey conducted by the india Today Group in coordination with Karvy Insights, 23 percent respondents feel the modi government's handling of the economic situation was 'outstanding'.
Almost half the 12,021 respondents surveyed said they consider the government's response to the economic crisis as 'good'. 22 percent people polled said they consider it 'average', and only 6 percent rated it as 'poor'. However, financial experts and groups expressed disappointment over the Covid-19 package with some economists dismissing the government's claim that the measures are a stimulus equaling 10 percent of GDP.
Moody's Investors service said the Covid-19 package was likely to ease asset risk but "not enough" to offset the negative impact of coronavirus lockdown. Under the impact of coronavirus lockdown, most experts predicted a contraction in India's GDP. Last month, PM modi had said the danger of the virus is not over yet and there was a need to remain vigilant while opening up the economy. The government has already rationalized its expenditure for the first two-quarters of this fiscal, compressing all non-essential expenditures of ministries and asking departments and ministries not to initiate any new schemes in the current financial year stating that there is a need to use resources prudently in the wake of the Covid-19 crisis.
