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.
Dinesh Gunawardene has become the new Prime Minister of Sri Lanka. President Ranil Wickremesinghe
Schools and colleges will not open now, Ministry of Home Affairs said this
Schools and colleges will not be opened yet. In this regard, the Union Home Ministry said on Tues
Katrina Kaif announced her pregnancy in September with a beautiful post. Now, happiness has final
The outbreak of monkeypox virus is increasing rapidly all over the world. The World Health Organi
In the 30th match of IPL 2022, Rajasthan defeated Kolkata by 7 runs, registering a thrilling win.
Electric vehicles policy is ready in 18 states, know! How is the car market changing?
In the last few years in India, the central government has not only emphasized increasing the con
Person of the Year: Time Magazine selected Ukraine's President Zelensky as 'Person of the Year 2022'
Ukrainian President Volodymyr Zelensky has been named 'Person of the Year by Time magazine. The m
The US will provide $600 million in additional military aid to Ukraine. The State Department gave
UP Election 2022: Uproar outside EVM strong room in many districts of UP, fierce ruckus in Varanasi
After the exit polls, the National General Secretary of the Samajwadi Party, Prof. The effect of
The Delhi government is in action mode to reduce road accidents in Delhi to zero. CM Arvind Kejri
