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.
Core Sectors Growth: The production of 8 core sectors of the country has shown good growth in Sep
The situation in Sri Lanka, which is facing the biggest economic crisis in the country's history,
The person said to Sonu Sood- Brother, reach on the bar ... Actor gave such an answer
Actor Sonu Sood may be popular for portraying villains on the big screen, but in real life he is
After the data was stolen from the server, the pharmaceutical company Dr. Reddy's Laboratories ha
Fashion brand NYKAA CEO Falguni Nair has surpassed Biocon CEO Kiran Mazumdar Shaw to become the r
Rs 45 crore has reportedly been spent on the reconstruction of Arvind Kejriwal's chief minister's
Yuvraj Singh Motivates Indian Team: The Indian team had to face defeat by 6 wickets at the hands
Raju Shrivastava Health Update: The condition of well-known comedian Raju Srivastava, admitted to
Ravichandran Ashwin is ready to create history in the last match of the India vs England series.
Chief Minister Yogi Adityanath termed love jihad as a planned attack on Indian culture and warned
