What are the steps taken by the Indian government to combat the economic impact of COVID-19 pandemic

Discuss the policies implemented by the Indian government to tackle the economic crisis caused by the COVID-19 pandemic.
The Indian government has implemented various policies to combat the economic impact of the COVID-19 pandemic. Some of the major steps taken by the government are:
  • The government announced a Rs 20 lakh crore Atmanirbhar Bharat package to help revive the economy.
  • Relief measures such as providing free food and cash transfers to low-income households, farmers, and daily wage earners were also implemented.
  • The Reserve Bank of India has provided regulatory measures that have helped in the ease of credit flow to businesses and households.
  • Tax filing deadlines have been extended and other compliance-related measures have been eased to provide relief to businesses.
  • The government has also announced sector-specific measures such as infrastructure spending and liquidity measures for MSMEs.
These policies aim to provide short-term relief to those affected by the pandemic and revive the economy in the long run.
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