Congress leader P Chidambaram said that, if necessary situations arise the government must print money to support its expenditure.
“We have space and sovereign right to print money and if at any point the Government feels that too much is being printed, it can always stop printing it,” as reported by news agency ANI.
When asked about the impact of the fiscal deficit on announcements made in the budget about the healthcare sector, like vaccination and other programmes, the former Union Minister said, “This is not the time to worry about the fiscal deficit. For 2021-2022, they have projected a fiscal deficit of about 5.5. What if it becomes 6.5, so what? According to me, it doesn’t make any difference at all, it should not make a difference, and it should not stop us.”
Nobel laureate Abhijit Banerjee has suggested that India should print money liberally and transfer cash directly to the sections of the society that need it the most.