What are the economic measures taken by the Indian government to fight COVID-19 pandemic
Explain the economic initiatives taken by the Indian government for curbing the impact of COVID-19 on the economy.
- The government has announced a Rs 20 lakh crore package to mitigate the economic impact of the pandemic.
- It has provided free food grains to the poor and marginalized sections of the society under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme.
- The Reserve Bank of India (RBI) has taken several measures, including reducing the repo rate, providing liquidity support to banks, and easing loan repayment terms to provide relief to businesses.
- The government has also implemented various measures such as extending the deadlines for filing tax returns, providing relief to real estate developers, and reducing taxes on certain products to boost consumer demand.
- The government has also launched the Atma Nirbhar Bharat Abhiyan or Self-Reliant India Mission, which aims to promote the growth of domestic industries and reduce dependence on imports.
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