Announcement
Prime Minister Shri Narendra Modi addressed the nation on 12th May on the issue of the coronavirus crisis and presented a roadmap to make India self-reliant in the post-corona world. He emphasized the need for building the ‘Atma Nirbhar India’ to spur growth. We analyse the real impact of the major decision points put forward by GOI on the target group.
Pradhan Mantri Garib Kalyan Package (1)
Measures by Reserve Bank of India
Measures for MSMEs
Conclusion
The major outlay of relief is subject to the lending appetite of banks and FIs, which has been at a slow pace since the outbreak of COVID-19. Even the COVID relief loan, which was introduced a month back, by banks such as SBI, has not gathered momentum. Also, government measures such as tax refunds, the return of guarantees, and the release of funds are highly based on the decisions of operating agencies or departments.
The majority of the measures are indirect relief to the affected sectors/persons, and hence, the efficacy is subjective to the efficiency of monitoring and implementation.