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On 13th May 2020, Nirmala Sitharaman, the current Finance Minister, announced a huge economic boost for the country's well being. In this respect, there has been an announcement of economic stimulus worth Rs. 20 Lakh Crore. This will be a Covid19 Economic Package aimed at reviving the battered and bruised Indian economy, which happened as a result of the pandemic lockdown. Indeed, the lockdown has forced a major part of the economy to shut down, resulting in an unprecedented loss of funds and opportunities. This problem continues to grow acute as the novel coronavirus shows no signs of stopping. Meanwhile, some economic sectors like hospitality and tourism are badly affected. Thousands of other companies over various industry sectors are forced to shut down due to this lockdown. To combat this stress on the economy, the government has been providing a generous Covid19 Economic Package . The first one was of 1.7 lakh crore. This time, seeing how the previous package has turn...

Last Saturday, on 2 May 2020, RBI Governor, Sakhti kanta Das had a meeting with the heads of various banks. Together they reviewed the current economic situation and the implementation of various measures that are being announced to reduce the financial stress on the Indian economy. The meeting took place in two separate sessions. At the meeting there were managing directors and CEOs of the biggest banks of the country, both public and private. One of the biggest points discussed was the current economic state and the financial sector’s stability. Topics discussed also include credit flows to the various industry sectors, such as liquidity to NBFCs, housing finance companies, microfinance institutions, mutual funds etc, and credit flows after the pandemic. After the pandemic, special focus will be on credit flows to MSMEs, and providing them with working capital. Items reviews included the implementation of the moratorium and the repayment of loan installments, as announced...

The pandemic and the Indian economy: We all know that the coronavirus pandemic is causing major disruptions on the Indian economy. Industry sectors like travel, hospitality, car manufacturing, are some others that are hit the hardest. Of course, people right now cannot afford to care for them. They are locked in their homes. Now, coming back to how the economy is affected, the supply chains are under great strain, many businesses are getting shut affected and shut down due to a crumbling economy, and millions of jobs are in the risk of disappearing. Additionally, there is a looming public health crisis on the near horizon. Need of the economy What the economy needs right now is not a predefined response plan that large companies and corporations give, but novel mindsets and behaviors that are capable of solving the current problems. These are given by the top startups. The solutions they offer are capable of solving unprecedented and unfamiliar problems. The need is to foc...

The government of India may soon provide the much-needed financial relief package to the MSME sector of the economy. This financial stimulus had been one of the main demands from the MSMEs. It will help them overcome cash flow and liquidity problems produced due to the pandemic-induced lockdown. Official Word Comes Out Nitin Gadkari, the MSME Minister said on Sunday in an official webinar that the government may soon announce a financial relief package for the MSME sector. He is hopeful that the Prime Minister and the Finance Minister will soon act on this need in this industrial sector. The MSME Minister said that there is a need for an ‘’integrated approach” if the pandemic crisis is to be tackled. Such an approach can then be used to leverage and find out new business ideas and new business opportunities. The Minister encourages overseas students to participate in the country’s building up of a response to the challenges presented by the Covid-19. This is possible by a co...

The pandemic and the Indian economy We all know that the coronavirus pandemic is causing major disruptions on the Indian economy. Industry sectors like travel, hospitality, car manufacturing, are some others that are hit the hardest. Of course, people right now cannot afford to care for them. They are locked in their homes. Now, coming back to how the economy is affected, the supply chains are under great strain, many businesses are getting shut affected and shut down due to a crumbling economy, and millions of jobs are in the risk of disappearing. Additionally, there is a looming public health crisis on the near horizon. Need of the economy What the economy needs right now is not a predefined response plan that large companies and corporations give, but novel mindsets and behaviors that are capable of solving the current problems. These are given by the top startups. The solutions they offer are capable of solving unprecedented and unfamiliar problems. The need is to focus o...