During the second wave of the corona epidemic, the prospect of a large relief package is as low as the last. According to sources from the Ministry of Finance, the government is closely monitoring the situation and any financial compensation will be issued only after the package has been resolved rather than promptly announced.
According to the official concerned with the case, the finance minister himself is monitoring the situation by negotiating with various industrial bodies. At the same time, there has been a response from industry people to various sectors. All of this is being considered in the ministry and will be assisted one by one by the worst affected sector in the coming days so that it can accelerate the economic pace.
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Traders have begun demanding additional borrowing and bans on existing loans from both the government and the Reserve Bank, but the finance ministry wants to assess the situation just days before any decision is made. At present, the central government’s focus is on providing health care facilities to the people. Also, work is being done to provide facilities such as food grains to those in need. In a financial review report released by the Ministry of Finance in March, the Department of Economic Affairs said the system is ready to deal with rising corona cases and that economic recovery will continue despite this.
Economic activities are affected
The second wave of the corona epidemic may not have caused a nationwide lockout, but new cases of corona in the states are not halting the name of the sanctions. Most economic activities are affected by these restrictions. In these cases, only the necessary items are left, new orders are not received, or old orders are not taken elsewhere.
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