Good Morning! The CEA has put out a solid explanation of Modi’s version of ‘New Deal’. The effect of Covid pandemic is a war-like situation, but it is different from a war, he says. It is causing supply-side disruptions, which are not permanent; just hands are off the machines. Temporary liquidity can tide over those difficulties. On the demand side, the impact can manifest if people start losing jobs. So, the demand-side measures are to lessen the impact on jobs. It is this focused resource allocation which helped the FM limit the stimulus impact on fiscal deficit at less than 2% of GDP. MARKET CUES: Where do we stand >>> Nifty futures traded some 50 points down on the Singapore Exchange at 7 am (IST) in signs that Dalal Street was heading for some more selloff. At the end of Friday's trade, maximum Call open interest stood at Nifty strike prices 10,000 and 9,500 levels, and maximum Put OI at 9,000 and 8,500. Options data indicated an immediate tr