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 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.
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