Why does the Indian government not provide stimulus checks like the US?

[tracey76]

@resjudicata in this case best would be to purchase hospital cash insurance,eg; 5k per hospitalized day for 2k annual premium. will help little bit

 

[resjudicata]

@tracey76 Bhai for congenital disorder that disorder is not covered in any insurance. Itna bda dhokha with the insured here.

 

[tracey76]

@resjudicata it is not insurance, hospital cashback - icici lombard provides regardless of health issues

 

[resjudicata]

@tracey76 Can you please share more details or a link for the same?

 

[tracey76]

@resjudicata i got it directly from the telemarketer.
phone pe had it few months back now it is not showing,
https://www.airtel.in/bank/group-hospital-cash closest i could find

 

[resjudicata]

@tracey76 Hospital cash insurance can come in handy, especially to take the burden of hospitalization expenses over and above your existing medical insurance policy and even to compensate on loss of pay. Below, we have elaborated further on this insurance.

Pre-Existing DiseasesCovered after 12 Months

 

[exodus20]

@resjudicata I got a star health policy and it says internal congenital disorders are covered but external are not. Heart disorders are internal so I guess I would be covered.

 

[resjudicata]

@exodus20 Avoid star health policies they have too many sublimits.

 

[resjudicata]

@exodus20 Please double check with them. My friend checked with ditto too. They repeated the same thing.
What is the name of your policy?

 

[cdw]

@sunsh2ne

At least the benefit will trickle down to some people.

Sorry but trickle down economics never works. The government last year did give handouts to businesses but those handouts never reached the kirana stores or small business owners. Instead the Ambanis, Adanis of this country curiously immensely wealthier while everyone else got poorer.

I absolutely agree with your sentiment that a universal basic income is required today. Unfortunately, this gauvernment is incapable of thinking outside there pyjamas.

 

[callmemustang]

@resjudicata Absolutely true. DHFL made more than 2.5 Lakh fake accounts and scammed banks. Babus with their netas will make 100x.

 

[beastmaster]

@sunsh2ne You don't know the source of the money in US. Did Fed print it or Govt is emptying their pockets idk but it most probably has to be the former. In that case the inflation will rise and India can't afford to raise the inflation. The curve could be steep and it may cause a lot of poor and middle class people's hard earned money to devalue. Stimulus is not an option for countries like India.

 

[blaise]

@beastmaster This. The US can print ungodly amounts of money and yet their currency doesn't devalue. That isn't the case in India.

 

[resjudicata]

@blaise Can someone explain why does the rule of more money printing == more inflation doesn't apply to the US ?

 

[tydhgfmhgf]

@resjudicata Here's a video to explain this and also gives little more details about other things.

It's about 20 mins but is worthwhile to watch.

 

[resjudicata]

@tydhgfmhgf I actually think the first point he makes about people not spending but hoarding in savings is far more logical than the reserves currency one. Having reserve currency status does not automatically move it away from simple supply demand logic. Reserve currency status isn't as classy as it sounds. It simply means that USD is the most accepted currency worldwide but that doesn't mean that's it's immune to printing devaluation.

 

[dkfromthelight]

@resjudicata Exactly my doubt

 

[resjudicata]

@dkfromthelight It honestly seems that nobody has a clear answer for this. If people didn't know the ground reality and you told them US has printed trillions of dollars then I bet everyone would have expected inflation.

 

[pknight79]

@resjudicata As the U.S dollar is the reserve currency of the world. Many nations trade using the U.S dollar for international trade.

 

[seeker1231]

@blaise It is the big concern right now on Wall Street that we will see return of 70s style inflation after all the stimulus spending of last year and this year. That is why you seeing foreign currencies strengthening against US $.