The Centre has no money for a stimulus package. Only the states can find a way to get India out of the slowdown.States, taken collectively, are the only hope. Despite loan waivers, they are in a better position to boost public spending. But that would require coordinated work between the Centre and the states source https://www.livemint.com/news/india/why-india-faces-a-public-funding-crisis-11579624437399.html