Page 5 - Economic Stimulus

PSBs disburse Rs 12,201 cr loan to MSMEs under emergency credit line scheme

Public Sector Banks (PSBs) have sanctioned loans worth Rs 24,260.65 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1

Coronavirus turning point for self-reliant India, says PM Modi

It's time for bold decisions and investments, he says in a speech to Indian Chamber of Commerce

Govt considers infrastructure push, direct cash transfers to boost demand

There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most

Delhi govt allows discoms to avail loans under Atmanirbhar package

Since the loans would need a state guarantee and Delhi is a Union Territory, it has written to ministry of home affairs to provide state guarantee on behalf of Delhi

We should see relief rally sustain, though with interruptions: S Mukherjea

'India accounts for a mere $3 trillion of economic activity in a world with nearly $80 trillion of activity'

Govt applies the brake on schemes outside the Rs 20 trillion package

Schemes that were given in-principle approval would also be suspended in this financial year

Rs 14,000 cr Gujarat relief package to help revive stuck industrial estates

It is estimated that due to high penalty over delay in construction of units on estates run by the Gujarat Industrial Development Corporation, work had been stuck over 5,000 hectares of land

Economic stimulus, 'vocal for local' call another jumla, says Congress

'This is an act of self deception. This is another 'jumla' (rhetoric) that you sell to the people of the country,' said senior Congress leader Kapil Sibal

India's policy uncertainty at 81-month high as index rises 4 months on trot

The last time index was this high was in August 2013 as country dealt with so-called taper tantrum. At the time, US Fed had begun reducing amount of money it made available for easy borrowing

After the lockdown: Indian economy's path ahead is riddled with potholes

While some economists believe the Indian economy would contract 5%, others say there could be a double-digit fall in FY21. A K Bhattacharya lists the challenges facing India's economic recovery

This will be worst recession ever, farming may save the day: Devesh Kapur

The Director of Asia Programs at John Hopkins University sees Pharma as an area of strength too, and says India must aggressively develop APIs domestically, instead of sourcing from China

India staring at a GDP contraction of 10%, says former finance secretary

Lockdown 1 and 2 turned out to be extremely severe, though agriculture and government expenditure, which constitute about 25% of GVA, remained almost unaffected, writes Subhash Chandra Garg

Bank lending targets under Rs 20-trn stimulus unfeasible: Ex-RBI deputy guv

There are other segments of the economy as well which are in need of credit, says R Gandhi

Covid-19 and governance: End the political lockdown and summon Parliament

It would be a great disservice to Indian democracy if the peoples' representatives failed to advise the government during this crisis

Over a third of MSMEs may end up shutting down operations, says AIMO survey

The results are based on 46,525 responses AIMO received from across industry segments including self-employed, MSME owners, corporate CEOs, employees and experts

Bank lending targets under Rs 20 trn stimulus unfeasible: Former RBI Guv

As part of the over Rs 20 trillion package announced by Prime Minister Narendra Modi, Rs 3 trillion was devoted to collateral-free loans to micro, small and medium enterprises

71% think govt's stimulus package will lead to economic recovery: Study

Even though a majority support the economic package, fewer than half see it benefitting them personally

Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out

The loan will be extended in the form of additional working capital term loan facility in case of banks and additional termloan facility in case of NBFCs to eligible MSMEs/ business enterprises

Japan approves fresh $1.1 trn stimulus to combat Covid-19 economic fallout

The latest package includes 33 trillion yen in direct spending, the Ministry of Finance (MOF) said.

More liquidity needed, states should come forward with Rs 20 trn: Gadkari

Efforts are on to develop vaccine for the coronavirus, Gadkari said, adding "we will have to learn the art of living with coronavirus"