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.
Director Imtiaz Ali's film 'Chamkila' was released on Netflix on April 12. After the release of t
PM Modi will be on a tour of Telangana and Tamil Nadu today. PM Modi will also inaugurate project
Australia defeated India by 4 wickets in the first match of the three-match T20I series. Despite
Realme launched Realme C35 smartphone, in addition to 4 cameras, these features are available
Realme has launched another budget smartphone in India. This phone is Realme C35. Here we are giv
Bollywood actress Sonakshi Sinha and Zaheer Iqbal are making headlines these days for their marri
North India, which is scorching by the scorching heat, may soon get some relief from its outbreak
Senior Punjab Congress leader and MP Pratap Singh Bajwa has openly supported Navjot Singh Sidhu a
The weather update is about to take a turn in the capital of the country, Delhi. There is a possi
Dr. Bhimrao Ambedkar's 133rd birth anniversary celebrations were organized on the lawns of Parlia
On the one hand, while preparations are being made on a war footing for the Maha Kumbh to be held
