Due to Corona epidemic, economically weaker sections and select sectors have suffered a lot. To improve them, Kotak Mahindra Bank Chairman and MD Uday Kotak has given some suggestions.
The Indian economy is getting badly affected due to the Corona period. The condition of some sectors is so bad that the jobs of those working in them have been lost. While the livelihood of many people is in danger. In such a situation, Uday Kotak (Uday Kotak), chairman and MD of Kotak Mahindra Bank, has given some suggestions to the government to fix the system. According to him, at this time the problem can be solved only through printing of notes.
Uday Kotak said, “I think it is time for the government to increase its balance sheet with the help of Reserve Bank of India (RBI). RBI needs to print more notes for this. If we do not do it at this time, when will we do it? “
Help should be given to the poor
Due to Corona, financially weak people have been burdened. Due to the shutdown through livelihood, it has become difficult to run the expenses of the house. In such a situation, Uday Kotak said that help should be extended to the poor sections. Also help those people who have the least resources available.
Uday Kotak said that the government will have to spend one percent of GDP or one lakh to two lakh rupees for direct cash transfer to the accounts of the poor. This will boost the ability to consume even those living below the poverty line. Apart from this, medical assistance is also required to be given to them.
Focus on corona affected areas
The sectors which have been affected due to Corona epidemic should also be provided financial assistance. So that there is no impact on the jobs of the people working in them. Due to the epidemic, two categories of business have been created in the country. One that has less impact due to COVID. Others are businesses that are facing challenges in their structure. Therefore, the government needs to bring another economic package to support small and medium businesses. During this, he also talked about increasing the loan amount given to small businessmen from Rs. 3 lakh crore to Rs. 5 lakh crore.
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