Sat hails Centres 1.7 lakh crore package, RBI decision of providing economic relief
28/03/2020
Jammu, MAR 27: Former Minister Sat Sharma (CA) hailed Hon'ble PM Narendra Modi led Central Government's decision of announcing Rupees 1.7 lakh crore economic relief package for people across nation. He said this will be a game changer and will surely boost the morale of people across country.
Citing various points of the economic package, Sharma said that it was indeed a big step to revive economy at this stage when the whole world is fighting with the impact of Corona Virus (COVID-19). He said Centre brought a slew of economic measures to support the people to survive through Corona scare. Enumerating major points of package he stated that free LPG cylinders to 8.3 crore BPL families will be provided under Ujjwala Yojana, Rupees 50 lakhs Medic insurance per person to medical workers, Rupees 31000 crore fund to benefit construction workers which constitutes nearly 3.5 crore people, Collateral free loans upto Rupees 20 lakhs for self help group women for nearly 7 crore women, Rs 2000 direct transfer to accounts of 8.7 crore farmers, free ration for people, Contribution of government in Provident Fund of employees and other things show that Central government is very much concerned about the welfare of masses and direct transfer will provide for necessary support in these tough times.
Sharma also hailed the decision of RBI (Reserve Bank of India) for safeguarding the economy by cutting 75 basis points in repo rates and bringing it down from 5.15% to 4.40 % now. He said RBI has taken many giant steps which will see that the businesses don't go bankrupt owing to cash flow problems and such an announcement will improve liquidity, reduce cost of funds and will help middle class and business establishments as well.
He also appealed the masses to stay at their homes and also requested them to not to create any sort of panic on this situation as the Central Government has already announced that there will be no shortage of essentials in market and every possible work is being done to overcome the problems.
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