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An excellent revival package from RBI
‘When it comes to COVID-19, Indian government is acting faster than many developed countries’
'When it comes to COVID-19, Indian government is acting faster than many developed countries'
The central government has been acting very fast when it comes to coronavirus crisis. It announced lockdown faster than many of the developed countries. We are seeing what is happening in Europe and the US. Besides timely measures like lockdown, the central government has also announced measures to support economy. No government did the way our government has done till now. The measures announced by Reserve Bank of India (RBI) on Friday are innovative and bold.
All sectors including MSMEs as well as individuals will benefit from these steps as RBI announced moratorium on all term loans including housing loans and personal loans. In my view, the government has done enough to support economy and vulnerable sections of the society. I don't think the government will announce any more measures as it can't afford given the precarious conditions its financial position is in. Frankly speaking, they don't have funds for the initiatives announced thus far.
– K Narasimha Murthy,
banking & financial expert
