Improving economy


Once again, incentive packages have been announced by the Central Government to bring back the ruined economy due to the Corona epidemic, how helpful will this package be in the future and speed up the sluggish economy; this will be dependent on upcoming time. But its basic objective is to activate the market, create demand. Demand will arise, only then will the emphasis on production and the way of investment will be opened. Due to the Corona epidemic and outbreak, impacts of negativity have spread over life, in which the most affected part is the economy; the silence of the market has hit the economy. The major base of the economy like demand, consumption, production, investment in the market has been shaken. In such a situation, now the first task is to bring the economy back on track. Prime Minister Narendra Modi and his government have announced a third major package, taking advantage of the positive trend in new cases of corona infection continuously before the festivals. After a long wait, some good news has started coming to Corona, there is a possibility of the vaccine becoming available at the end of the year or at the beginning of the New Year. In the midst of these changing moods and clouds of desperation, the government has also announced its exemplary package to light up life in economic activities. This is the third time since May this year that the central government has announced an incentive package. The target of the first two packages of Rs 20 lakh crore was to revive the economy, but both of those packages did not have any miraculous and quick impact. But in the midst of changing conditions, these three packages will surely do something pleasant. The Indian economy has fallen by about 24 per cent in the June quarter, due to this it is the government's compulsion to take similar steps.
Union Cabinet have also approved a special package of Rs 520 crore for Jammu and Kashmir and Ladakh under the National Rural Livelihood Mission. The decision is in line with Centre's aim to universalise all centrally sponsored beneficiary-oriented schemes in J&K and Ladakh in a time-bound manner. This is based on the outcomes of the evaluation pointing to the potential of the Mission to improve the quality of life of rural households and women empowerment and given the changed circumstances in the UTs of J&K and Ladakh, it added. Finance Minister Nirmala Sitharaman has earlier announced 73 thousand crores of concessions, reliefs and grants to remove the inertia in the economy and to create new demand in the market, through which she tries to uplift the condition of market and its components that are in huge loss due to corona epidemic and lockdown. The time-selection of these announcements is a symbol of auspiciousness and credibility because the festive season from Dussehra, Diwali to Chhath, Christmas and New Year is about to begin. During this period of two-and-a-half months, there is a special enthusiasm among the people about shopping and this is why the business world has special expectations from it.

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