The Finance Minister may soon announce a wide-scale stimulus measure of 3 lakh crore rupees for the coronavirus crisis.



Nirmala Sitharaman
the date on - 12/05/2020

 The Finance Minister may soon announce a wide-scale stimulus measure of 3 lakh crore rupees for the coronavirus crisis.

 The government recently announced its plans to borrow 54%, or just over 4 million. Estimated budget in the amount of 7.8 million crore rupees.

 Finance Minister Nirmala Sitharaman may announce a large economic stimulus package worth Rs 3 million at the end of this week, according to a Business Standard report.

 Awakening packages for their respective sectors are also expected to be offered in other areas.

 The G-20 is expected as a percentage of GDP.

 The government should provide room for maneuver to ensure the availability of possible loans for fiscal 21 up to 12 lac crore with 7.8 lac crore.

 It could be a deep recession. ” As the economy gradually opens. These packages will help support micro, small, and medium enterprises but many policymakers believe the incentives should be routed through agencies such as banks, non-banking finance companies (NBFCs), and the Small Industries Development Bank of India (Sidbi), the people said.  

 To encourage industry to boost output, but the government is planning production-linked incentives on the lines of those offered by large-scale electronics manufacturing, the people said. The government on April 1 notified an Rs. 40,995 crore incentive package for electronics manufacturing that would provide direct employment to over 200,000 people in the five years. 

 The government is also considering giving sector-specific fiscal and policy support to large industries such as airlines, hospitality, and tourism that have been the worst-hit by the pandemic, they added.

 The official added that the “next set of announcements” will be massive compared to the previous package of 1.7 million Rupees announced by the Minister of Finance.