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.
Smartphone maker POCO has launched another mid-range smartphone in India. This phone was debuted
Thousands of people have gathered near the Bangladesh High Commission in Chanakyapuri, Delhi, to
Prime Minister Narendra Modi will embark on a two-day visit to Gujarat starting Thursday to lead
Sony Pictures Films India and Sabbir Khan Films' much-awaited and much-loved action entertainer f
Munawar Faruqui has won the trophy of 'Bigg Boss 17'. Fans are very happy about 'Dongri Ke Raja'.
Canada Khalistani Terrorist Hardeep Singh Khalistani terrorist Hardeep Singh Nijjar living in Can
Whenever the fittest actor in the film industry is mentioned, Salman Khan's name is taken. Even a
The nomination for the three-tier panchayat elections of UP has started from today i.e. Saturday.
T20 teams can now be given the option of having 4 extra players so that the playing XI can be cha
The accused who opened fire on Imran Khan's long march in Wazirabad, Gujranwala on Thursday has b
