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.
Russia Ukraine War: Zelensky may visit America amid war, hopes to meet Biden
Ukrainian President Volodymyr Zelensky may visit Washington. During the visit, he is likely to me
The Ministry of Defense has made major changes in the army recruitment process. The 'Agneepath Re
Russia on Tuesday raised the issue of Ukraine's so-called dirty bombs at the United Nations Secur
Kicha Sudeep sure, someone third was involved in the tweet-war on Hindi from Ajay Devgan
The statements of movie actors regarding the Hindi language have been in discussion for the past
ED will question Congress President Sonia Gandhi on Wednesday for the third day in the National H
Apple iPhone 12 base model price revealed, know what will be the price
New Delhi: Tech giant Apple will soon launch the iPhone 12 series. According to reports, the comp
Farmers Protest: Prime Minister Narendra Modi may have announced the cancellation of all three ag
Deadpool 3: First look from 'Deadpool 3' surfaced, Ryan Reynolds and Hugh Jackman's cool avatar
Hollywood stars Ryan Reynolds and Hugh Jackman on Monday unveiled the first look at their upcomin
Farmers have been agitating since February 13 for their various demands and the main demand is to
Defending the decision to levy GST on packaged goods and food items, Revenue Secretary Tarun Baja
