
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.
PM Modi: PM Modi will attend the Arun Jaitley Memorial Lecture, and will address the people
Prime Minister Narendra Modi will attend the first Arun Jaitley Memorial Lecture organized in mem
Taiwan seems to be taking a tough stand on the increasing infiltration of China at its border. Ta
The government and the army held a press conference after the Indian Armed Forces' strike 'Operat
The matter of comedian Kunal Kamra's objectionable comment on Maharashtra Deputy Chief Minister E
DRDO and Indian Navy successfully test-fired VL-SRSAM surface-to-air missile, knowing its specialty
VL-SRSAM Missile: India has successfully test-fired the surface-to-air missile (VL-SRSAM), increa
Tension is increasing between India and Canada over the killing of Khalistani terrorist Hardeep S
New Delhi, agency. The third phase of voting is going on in West Bengal on Tuesday. Meanwhile, Pr
YouTuber Elvish Yadav, who is always in controversies, is again in the news due to another scanda
Agitators yesterday stormed the official residence of President Gotabaya Rajapaksa, amid politica
A major change has been witnessed in the Asia Cup 2025. ICC Elite Panel Match Referee Andy Pycrof