Need targeted spending to revive economy, says Arvind Virmani

The government should undertake targeted expenditure to stimulate the pandemic-battered economy and not go in for a general expansion expecting "magical results", says Arvind Virmani, former chief economic adviser to the finance ministr y. "I have argued that as far as government's own expenditures are concerned, it must be ver y targeted because it is no use to think that we will just expand government expenditure and you will get magical results," says Virmani in an interview to Cogencis.