The central government may once again announce another package of fiscal, monetary and policy measures to boost demand in the economy following a nationwide lockdown imposed for the corona virus disease (COVID-19) epidemic. Requesting anonymity, an official informed that an in-depth assessment of Rs 20.97 lakh crore will be done before the possible announcement. Some critics have stated that the package of fiscal and monetary measures, which included previous announcements, were not enough to overcome the economic consequences of the ovid-19 and the ensuing lockdown.
The official informed that the government has kept all its options open and will respond with appropriate measures to streamline supply and boost demand to keep the economy on a high growth trajectory. The other two officials said the next package, which is expected to arrive in less than a month, will complete the essentials left by the package already announced since March 26. The package will be prepared after discussion with all stakeholders. According to the Finance Ministry, public sector banks (PSBs) sanctioned loans worth Rs 6.45 lakh crore in about 5.5 million accounts between March 1 and May 15, but officials say the real figure is low. According to the Finance Ministry, the loan disbursement will begin after the lockdown is lifted. The fourth phase of the lockdown is scheduled to end on May 31.
HT quoted Niranjan Hiranandani, president of the Associated Chambers of Commerce and Industry of India (Assocham) as saying that the industry, especially the MSME, needs money. It is good that the money has been sanctioned, now the disbursement should happen as soon as possible. Experts say that borrowers are hesitating to take advantage of approved loans, as they are not seeing enough demand in the economy. On 22 May, the Reserve Bank of India reduced the policy rates by 40 basis points (bps) to provide relief to borrowers trapped in the Covid-19 economic downturn and extended the three-month deferment to repay the loan. This was the third monetary intervention after 27 March. The self-reliant India package included RBI measures of 8.01 lakh crore.
BCCI: Match fees of Indian women cricketers are now at par with men, BCCI made a big announcement
Board of Control for Cricket in India (BCCI) Secretary Jay Shah made a big announcement on Thursd
Maharashtra Board: Class 10 annual board exam canceled, the result will come by end of June
The Maharashtra government has canceled the annual Class 10 board exams for the year 2021 on Frid
Good news for all of us. In the country, the rate of corona's positivity rate is increasing conti
The results of the Lok Sabha elections have been announced. This time, 280 candidates have reache
Positive efforts have started at several levels simultaneously to improve relations between India
Former captain Kapil Dev has lashed out at the Indian team for the humiliating defeat in the seco
Anant Ambani and Radhika Merchant's wedding was solemnized on July 12. After the 'Shubh Ashirwad'
Air India Express flight operations are being disrupted. This problem has arisen due to the
Former Congress President and Wayanad MP Rahul Gandhi will appear before the Enforcement Director
The BJP on Saturday stepped up its attack on Congress leader Rahul Gandhi, alleging that he was s
