On Wednesday, Kannada news broadcaster Public TV had run a special episode on its network claiming Narendra Modi-led Union government has come up with an initiative of ‘Helicopter Money’, by which money will be airdropped from helicopters to every village to combat the economic slowdown in the country due to corona pandemic. Public TV claimed that the Modi government has plans to airdrop currency notes from choppers into every village in India as part of “Helicopter Money” initiative.
What is ‘Helicopter Money’?
This is an unconventional monetary policy tool aimed at bringing a slowing economy back on track. It involves printing large sums of money and distributing it to the public.
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