What are the measures taken by the Indian government to improve the condition of the economy amidst COVID-19 pandemic
Discuss the steps taken by the Indian government to boost the country’s economy during the COVID-19 pandemic.
- Announcing a stimulus package of Rs 20 lakh crore to provide relief to various sectors of the economy affected by the pandemic.
- Providing financial assistance to migrant workers, farmers, and small businesses.
- Introducing a production-linked incentive (PLI) scheme to encourage domestic manufacturing in various sectors.
- Increasing the allocation for the rural employment guarantee scheme (MGNREGA) to provide job opportunities in rural areas.
- Reducing the repo rate and the reverse repo rate to make credit cheaper and increase liquidity in the economy.
- Providing tax relief for various sectors and extending the deadline for filing returns and making payments.
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a year ago