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Wednesday, June 17, 2020

The good news is that the government may announce one more relief package, you may benefit from this, know when to announce

After the lockdown, the central government is preparing to take big steps to revive the slowing economy. The central government may soon announce a major relief package to get the country's economic momentum back on track. In any case, the government is planning to strengthen the economy.

The RBI hinted at a relief package
Advertising can take place in September or October
… The Indian economy will recover very quickly
The RBI hinted at a relief package

Reserve Bank of India (RBI) director S Gurumurthy on Tuesday said the central government may announce a final relief package in September "after the Kovid crisis". In a webinar organized by the India Chamber of Commerce, Gurumurthy said the package of more than Rs 20 lakh crore announced by the central government could be considered as an interim measure.

Advertising can take place in September or October

"The final stimulus package could be announced in September or October after the Kovid crisis," the RSS thinker said. "European countries and the United States are running out of currency to cover the losses, while India does not have much scope for that to happen," he said. Gurumurthy said the central bank has not yet considered the option of monetization (note printing) in losses.

Under the monetization of losses, the central bank buys government bonds to meet the government's spending needs and in return funds the government from its own funds or by printing new notes.

He said, 'India is facing many problems. The government has deposited Rs 16,000 crore in Jan-Dhan bank accounts from April 1 to May 15. He said, ‘Surprisingly, very little money has been withdrawn from those accounts. This shows that the level of crisis is not as high.

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He said that in the post-Kovid crisis, the world would shift from 'multilateralism to bilateralism' and the Indian economy would recover very fast.

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