explain
During corona pandemic, Government gives emphasis to maintain
social distancing
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Explanation:
t and the COVID-19 pandemic
Version 14 April 2020
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Abstract
The economic consequences of the COVID-19 pandemic call for urgent policy responses to support households and firms alike, but how this support is designed will be critical in ensuring that it does not result in enduring global market distortions.
Support packages that are time-limited, targeted, cash-based, and consistent with longer-term objectives are the basis for ensuring a sustainable recovery.
Transparency of support packages is critical for public trust, but also once the crisis is over in order to foster accountability and enable governments to learn from what worked best.
There is a critical need for government support for vulnerable individuals and firms
The economic consequences of the COVID-19 pandemic call for urgent policy responses to keep the economy afloat and enable people to retain their jobs and incomes. Most of the measures envisaged at present are macroeconomic in nature, focussing largely on the provision of emergency liquidity by central banks. Fiscal measures that have been announced at this stage include broad-based tax relief (e.g. VAT reductions and deferred payroll charges), wage subsidies, unemployment bene
fits, the deferment of utility bills and rent payments, mortgage relief, lump-sum payments to households (i.e. so-called ‘helicopter money’), loans and loan guarantees to businesses, as well as equity investments by governments in distressed companies.