Unveiling the fourth tranche of the Rs 20 lakh crore stimulus package, Nirmala Sitharaman said there is sub-optimal performance of power distribution and supply in the country.
As with the number of cases, most people seem to be underestimating the economic impact of Covid-19, such as forecasters fiddling with positive growth numbers.
Govt’s 100% sovereign guarantee for uncollateralised MSME loans will encourage borrowers to never pay back, discourage banks from lending to them in future.
Support measures in the Rs 6 lakh crore package are in form of credit guarantees and improving liquidity, will not lead to substantial cash outgo for govt.
The scheme will supplement the RBI and govt measures to augment liquidity by providing guarantee to investment grade securities, the Finance Minister said.
The measures announced Wednesday as part of the Rs-20 lakh crore package will support both healthy and stressed MSMEs, and address liquidity woes of NBFCs.
In a video message, Nadda said the package will not merely fight the impact of Covid-19 on the economy but also empower the country and make it self-reliant.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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