To address the Global meltdown and Bubble burst while the countries world wide are coming up with their own plans to address this issue , with the US being epitomized as the front runner with a Bail out package of 700 billion dollar.
To cushion the effect of the Bubble burst impact on India the government of India has also announced a series of Packages to provide a Helping hand.
While the First phase included a Stimulus Package of Rs 30,000 Crore with an additional Rs 20,000 Crore for infrastructure management the government tried to set the market back in action.
The Second phase included a more detailed package to address specific industries requests losing a revenue of Rs.40,000 Crore.
While certainly the necessary measures included RBI’s rate cuts on CRR,REPO rates and reverse repo rates to bring in more liquidity into the market, Credit was created but isn’t being disbursed as planned out.
Companies and individuals who had their own jolts in the aftermath of the Burst are no longer in a mood to take credit and invest to reap out more benefits.
So I guess the Stimuli intended to be created with the Stimulus Package hasn’t yet started to take off….
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