What are the initiatives being taken by the Indian government to boost the economy after the pandemic situation
Explanation on what steps Indian government took to revive the economy post-pandemic situation
- Atmanirbhar Bharat Abhiyan: The government has launched a $266 billion stimulus package to boost local manufacturing, create jobs, and promote self-reliance.
- Infrastructure Development: The government has announced a National Infrastructure Pipeline with an investment worth $1.5 trillion. This will create jobs, increase demand and boost economic growth.
- Monetary Policies: The Reserve Bank of India has lowered interest rates multiple times to encourage borrowing, investment, and spending.
- Liquidity Support: Various bailout packages were launched to support the MSME sector, mainly with loans, interest rates reduction and a collateral-free loan facility
- Focussing on Agriculture: The government has allocated funds to improve rural infrastructure, boost agricultural production, and increase farmers' incomes, through various schemes like Soil Health Card scheme, PM-KISAN etc.
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