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.
Padma Vibhushan Jagadguru Ramanandacharya Swami Rambhadracharya has directly challenged Saint Pre
The MPs, suspended from the House for a week on allegations of creating ruckus in Parliament, are
Today the number of deaths from corona in the country has crossed 1 lakh ... and this is not just
Samsung's most awesome laptop is coming on Amazon, which will make everyone fail in the feature
Samsung Laptop On Amazon: Samsung is bringing a new laptop after Galaxy Book Pro, Galaxy Book 2 P
The matter of comedian Kunal Kamra's objectionable comment on Maharashtra Deputy Chief Minister E
Vaccine For Omicron Variant: Vaccine companies in the world have taken the lead against the new v
After defeating South Africa in a one-sided match in the third T20 played in Dharamshala, the Ind
The India Meteorological Department (IMD) has predicted a cold wave in several parts of Himachal
One of the most awaited films of Bollywood, 'Ramayana', whose shooting has been going on for a lo
Police have disclosed the murder of Congress worker Himani and have named her friend Sachin as th
