Write about recent steps taken by governments to bring about socio-economic change
Answers
Answer:
Some suggestions to get the economy up and about
The country is under lockdown for a month now. Since then, India’s economy has gone into the sleep mode. All of us, including policy makers, doctors and experts are grappling for some definite way out to overcome the Covid-19 pandemic.
There are voices in the media and industry against any further extension of the lockdown period. Some argue that the extent of impact of Covid-19 is far less in India as far as the number of deaths is concerned.
Even if we assume that number of actual positive cases is 20 times more than what is reported today, the number of corona-affected people flocking to hospitals and deaths thereof has so far been contained. This should be seen against our lackadaisical approach towards the lockdown and our attitude to ignore social obligations and commitments. Of course, there will be other views which suggest that we are nowhere near the peak – any relaxation at this point could actually lead to the pandemic going out of hand.
Answer:For Banks:
CHEAPER CASH: A series of steps announced this year aim to encourage banks to lend.
— Banks don’t need to set aside cash reserves for loans given to small businesses between Jan. 31 to July 31, or for credit to help consumers buy a car or home (announced Feb. 6)
— Policy lending rate -- the repurchase rate -- cut by 75 basis points in a single move this year. However, the effective deposit rate has been slashed by 115 ba ..
Read more at:
https://economictimes.indiatimes.com/news/economy/policy/the-steps-india-has-taken-so-far-to-contain-economic-fallout-of-covid-19/articleshow/75285944.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst