Former Reserve Bank of India urges government to implement financial incentives to prevent economic stagnation caused by coroner virus Burn out Called. He also noted that the outbreak of coronary virus will reduce the country’s gross domestic product (GDP) growth rate by one percent.
India’s already poor economic environment is in dire crisis. He said that the outbreak of coronavirus only worsened the country’s economic status, which he said was affecting US and European countries. But India’s growth and job prospects have been affected, he said.
He said that financial concessions have to be given to accelerate material burden in this national environment. There is no need to keep up with the deficit target in this national environment. He said that if the country’s security concerns were raised, how would the government allocate more money to the state? In such an environment, the government has declared a financial discount and we have to accept it even if the revenue deficit is increased by 0.5%. He said that in the current context, the economic growth of the country is far below the prescribed.
The current state of the economy is at a critical time. Unemployment is high. Growth has slowed, lending rates have dropped. As a result, investment has declined, Jalan said.
He noted that although the coronary virus attack is currently underway, the country’s economic growth rate has not increased significantly before.
In the current context, the growth rate of the country is forecast to grow by 5.2 percent in the current fiscal, it is likely to decline further. In all, he acknowledged that the Indian economy was not doing well.
In response to a question on whether the Reserve Bank would adopt interest reduction measures and lead to cash flows in its fund policy, the RBI said it had already taken such a national step.
Industry leaders have called on the government to announce a financial release of 2 trillion rupees to rescue the coroner virus. He has called for measures such as tax deductions and interest reduction.
It is noteworthy that countries including the United States, France, Japan and the United Kingdom have already announced several million financial concessions.
We will not leave the house until March 5th We will be in touch with the world through the media. We will fully contribute to this community by preventing Corona from spreading to the public eye.
– Hindu Tamil Directions with the interest of readers