We are facing what is probably the gravest economic crisis in at least a decade. At least 40 lakh young Indians have lost their jobs owing to the lockdown.
The Indian Prime Minister’s address to the nation had kicked off a flurry of activities from the finance minister and she responded by making five tranches of announcements to bring the Indian economy back on its rails.
The Insolvency and Bankruptcy Code (IBC) was introduced in May 2016 to hasten debt resolution as banks were facing monumental non-performing loans.
The importance of MSMEs in the Indian economic scenario is humungous.
In his address to the nation, the Indian Prime Minister announced a stimulus package of Rs 20 lakh crore aimed at all sections of society and the economy.
Following the first press conference on 13 May 2020, the Indian Finance Minister (FM) made the second tranche of announcements at a press conference on 14 May 2020.
The Indian Finance Minister, in her second press conference on 14 May 2020, announced measures to support various sections of the society.
In a televised address to the nation on the night of Tuesday the 12th of May, India’s Prime Minister Shri Narendra Modi spoke of kick starting a simultaneous process of revival aimed at the COVID.
The follow-up announcements after the PM’s announcement of Rs 20 lakh crore was flagged off by Finance Minister Smt. Nirmala Sitaraman.