Many think that the Narendra Modi government has spent a lot this year, especially to mitigate issues faced by people in the wake of the coronavirus pandemic. It’s true that the government has announced stimulus packages to the tune of Rs 30 trillion. But if one were to make a comparison, the government expenditure this year (till October-end) was roughly the same as last year. Given that expenditure this year was budgeted to be 13 per cent more than last year, the finance minister would be expected to spend more in order to expedite economic recovery. But where should she spend? Infrastructure, many say. Yes, of course the government should spend more on infrastructure, but will that yield immediate benefits? A priority for the government at present should be investing in small-gestation projects for immediate rewards, says