On November 12th the finance minister Nirmala Sitharaman said that there will be new stimulus called Atmanirbhar Bharat 3.0’ package.
The Emergency Credit Line is now extended till March 21, 2021.
The first package was in May to help all the sectors which badly affected and small companies who needed help.
The ministry said that Rs 2.05 lakh crore had been sanctioned to 61 lakh borrowers.
They will also support the healthcare sectors.
The new stimulus measures are aimed at providing relief to the Indian economy which is reeling under the impact of the coronavirus.
There were multiple discussions within the central government and with industry bodies and stakeholders leading up to today’s announcement.
In the press conference, the finance minister happily said that economy is in much better state as the covid cases is decreased.
She also added that measures taken by the Centre in the last few months to support economy growth.
She also said that:
This was possible because of Atmanirbhar Bharat’ – such as ‘One Nation One Ration Card’ – were making progress.
On november 11,
The reserve bank of india said that the economyis doing great and and return to positive growth by the third quarter of the current financial year.
Check all the recent news updates and share market updates