Question

what are the main differences in policy and strategy of response to such economic meltdown of india,pakistan,USA, new zealand

Answer 1

Following are the steps taken by the Indian government in response to economic meltdown caused by Covid 19.
Financial Relief Package worth INR 1.75 lakh crore (generally 0.8% of the GDP).

Protection inclusion for laborers in the human services area and pay backing to low wage laborers as far as advantages for those as of now working, just as the individuals who may lose their positions.

Extra Rs 150 billion (generally 0.1% of GDP) to be dedicated to wellbeing foundation. A few measures to ease taxation rate, including delaying consistence cutoff times.

Repo rate and Reverse Repo rate decreased to 4.4% and 4% individually on March 27 out of a push to support liquidity into the framework

Liquidity estimates worth Rs 3.7 trillion by means of Long Term Repo Operations (LTRO) and a decrease of 100bps in Cash Reserve Ratio (CRR).

Following are the steps taken by the Pakistani government in response to economic meltdown caused by Covid 19.

On 24 March, the Prime Minister endorsed a Rs1.2 trillion financial alleviation bundle. Of this, an aggregate of Rs150 billion was dispensed for low-pay gatherings, especially workers while 280 billion rupees ($1.76 billion) was relegated for wheat acquirement.
Credit interest portions for exporters were surrendered quickly, while a heap of 100 billion rupees ($63 million) was given to support little ventures and the cultivation territory.
Following are the steps taken by the American government in response to economic meltdown caused by Covid 19.
Setting up of Coronavirus Aid, Relief and Economic Security (CARES) Act worth $2.3 trillion, generally 11% of USA's GDP.

Out of this, $250 billion to give a one-time charge refund to people. $250 billion to extend joblessness benefits. $24 billion to give food and a security net to the defenseless.

$510 billion to forestall corporate chapter 11 by giving advances and certifications. $359 billion for MSMEs and independent companies

$100 billion for medical clinics. $150 billion in moves for state and nearby governments. $49.9 billion for global help.

The Federal Reserve made two crisis rate cuts in March, bringing about the acquiring rate for banks dropping down to 0-0.25%.

Expanded acquisition of treasury and office protections in the sum required. Extended for the time being and term repos. Brought down expense of markdown window loaning.

Following are the steps taken by the New Zealand government in response to economic meltdown caused by Covid 19

The Government's COVID-19 financial help bundle is worth $12.1 billion, practically 50% of which covers prompt pay sponsorships for organizations influenced by the coronavirus pandemic.

The bundle - speaking to 4 percent of New Zealand's GDP - additionally incorporates wiped out leave appropriations, an aeronautics bolster bundle, a gigantic lift for the wellbeing segment, and some expense alleviation changes.

The bundle incorporates:

• $500 million lift for wellbeing area

• $5.1 billion in wage endowments for influenced organizations in all parts, accessible right away

• $126 million in COVID-19 wiped out leave and self-seclusion support

• $2.8 billion for money support, including $25 every week advantage increment and a multiplying of the Winter Energy Payment for 2020

• $100 million redeployment bundle, to assist representatives with preparing to work in different enterprises

• $2.8 billion in business charge changes, including a temporary expense edge increment, and discounting enthusiasm on some late installments of assessment

• $600 million introductory flying help bundle .

In light of these figures, it is protected to state that India and Pakistan has spent significantly less, particularly on the monetary front as far as improvement bundles presented by governments, when contrasted with USA and New Zealand .

One may contend that these reactions can't be contrasted with one another because of two fundamental reasons. To start with, the quantity of cases just as the rate at which they are expanding is substantially less in India and Pakistan because of the early usage of lockdown. Furthermore, second, India and Pakistan's economy is considerably more not quite the same as the ones whose information has been referenced above, so it isn't at all important for similar measures to be successful for our nation too.