Government Relief Package Shows The Impact On Economy

Government relief package shows impact in saving economy from Corona: RBI.

The Reserve Bank of India (RBI) says that the government relief package has played an important role to save the country’s economy in the current financial year.

The government will also have to focus on its spending during the next financial year.

That is, despite facing a crisis on the revenue front, Finance Minister Nirmala Sitharaman will have to give priority to increasing spending in the General Budget 2021-22.

In its monthly report on the country’s economy released this week.

RBI has acknowledged that the role of the government package has been very important in reviving the economy from the Corona crisis and will continue to be important.

To stop the havoc of Corona, the central government has released a total package of Rs 29,87,641 crore by November 2020.

Of this, the largest amount of Rs 11,02,650 crore has been given under the self-sufficient Bharat Abhiyan-I.

While a package of Rs 73 thousand crore has been given under Self-Reliant India Campaign-2 and Rs 2.65 lakh crore under Campaign-3.

The RBI has praised them saying that they started with the help of poor people, but later the impact was widespread. It helped improve GDP by increasing demand.

In view of this, it can be said that the government announced to deliver the package on time.

The RBI has also advised the Center and states that they have to be very careful about their capital expenditure.

There is a need to increase government spending to reduce the side effects of Covid-19.

The process of returning the economy back on track will continue and for this, there will be a need to increase government spending.

In the first half of the current financial year, capital expenditure in areas such as health, education, housing, the environment has completely ended.

The government will have to be more cautious about capital expenditure and revenue expenditure for some time.

Gold Price: Gold becomes cheaper this week, silver prices also fall, know price.

On the last trading day of this week, on Thursday, February 5, 2021 futures gold fell by Rs 76 to Rs 50,073 per 10 grams on the MCX exchange.

Apart from this, the futures price of gold on April 5, 2021, closed at Rs 50,129 per 10 grams on MCX on Thursday, the last trading day of the week.

Significantly, on Friday, the bullion market remained closed due to Christmas.