Business

India offers $40 billion loans to small business to boost growth amid Covid pandemic

India will provide collateral-free loans worth $40 billion to boost liquidity for small businesses and help the economy tide over the coronavirus outbreak.

There are 15 different measures, including six pertaining to small businesses, Finance Minister Nirmala Sitharaman said in New Delhi on Wednesday. More measures will be announced over the course of the next few days, she said.

“Essentially this is to spur growth and to build a very self-reliant India,” Sitharaman said. “It addresses ease of doing business, compliance and due diligence and the intention is also to build local brands.”

Prime Minister Narendra Modi Tuesday said his government will spend an amount equivalent to 10% of the nation’s gross domestic product to help the economy get back on its feet after weeks of stay-at-home restrictions to beat the pandemic. The resultant halt to non-essential consumption set up Asia’s third-largest economy for its first annual contraction in four decades as businesses collapsed and jobs were lost.

Click to comment

Leave a Reply

Your email address will not be published.

four + seventeen =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us