Modi took steps to revive the Indian economy

A public address has been detected on a rickshaw-connected loudspeaker for a mobile Covid-19 test van during a lockdown caused by a coronavirus in New Delhi, India, on Monday April 20, 2020. Given the high risk of controversial deaths, the herd immunity strategy is being deferred as a solution for poor but young countries like India. The strategy, which could allow the majority of the population to realize resistance to the virus after being infected, would then recover, causing a less economic catastrophe and human suffering than restrictive lockdowns designed to prevent the spread of the virus. As a result, a wide variety of experts are arising within. A country of 1.3 billion people.
– Prime Minister Narendra Modi discussed ways to increase liquidity and debt in businesses, infrastructure and agriculture sectors to strengthen Asia’s third-largest economy, the effects of the world’s toughest lockout growing.

In a meeting with senior ministers including Home Minister Amit Shah and Finance Minister Nirmala Sitharaman and other key government officials on 2 May, Modi discussed strategies and interventions to support small businesses and farmers as the country revives the economy. Prepares to allow some activity. According to a statement posted on Twitter, there were talks about increasing liquidity and speeding up credit flow for quick recovery after the country closed in late March to investigate the spread of COVID-19.

Prime Minister Modi announced a total bandh on 24 March, shutting down all essential goods and services. Stopped that construction and wiped out consumption, the backbone of the economy that is heading towards contraction for the first time in more than four decades. The government has ordered stay at home for the next two weeks from May 4, but restrictions have been relaxed in some areas to resume economic activity.

The statement said that revival of the infrastructure sector and rapid implementation of large-scale construction projects were investigated. The government is considering a proposal to guarantee loans of up to 3 trillion rupees ($ 40 billion) to small businesses, who were familiar with the matter last month.

India’s central bank governor, Shaktikanta Das, held a meeting with the CEOs of the nation’s banks on 2 May to discuss ways to ensure credit flow to businesses when the lockdown order expires.