Now this time the condition is worse, the government will announce the relief package if needed

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NITI Aayog Vice Chairman Rajiv Kumar said that this time the condition of the economy is much worse.

In 2021-22, the country’s economy will register a growth of 11 percent.

Economic activity has again collapsed amid the new wave of Corona. Meanwhile, Vice Chairman of NITI Aayog, Rajiv Tyagi said that there is a lot of uncertainty in front of the country and if needed, the government can announce a fiscal measure. It may also include a Stimulus package. However, he has not made specific mention of Stimulus.

Rajiv Kumar said that the present situation has become worse than before. Along with this, he also said that in the financial year 2021-22, the country’s economy will register an increase of 11 percent. Rajiv Kumar said that the corona epidemic in India was almost over, but the new strain of other countries including the UK has again deteriorated the situation. He said that the new wave will have a direct impact on the service sector. More impact will be on the environment of the business.

Bad effect on consumers and investors

An atmosphere of uncertainty is arising regarding business and economic recovery. In such a situation, nothing can be said about the Consumer and Investor Sentiment. Deteriorating consumer sentiment will affect demand, while deteriorating investor sentiment will adversely affect investment. India’s economy is a big part of investment in it.

Reserve Bank also focuses on liquidity

In the year 2020, the government announced a self-sufficient India package. At different stages, the government had announced 27 lakh crore stimulus, which is about 13 per cent of GDP. The Reserve Bank is also continuously working to increase the liquidity in the system. The RBI has maintained the repo rate at 4 per cent for the sixth consecutive time.

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Also Read: Investors panicked by Corona’s new wave, FPI withdraws 4615 crores so far in April

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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