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Another Economic Package Awaited : Gurumurthy

S Gurumurthy Economic Package

To deal with the economic downturn that has arisen from Corona, the central government may offer another economic package in the next two to three months. This will be in addition to the package of 20 lakh crore that the government has announced last month.

Reserve Bank of India (RBI) director S Gurumurthy, while addressing a webinar organized by the India Chamber of Commerce, said the government is closely watching the economic crisis created by the Corona epidemic. That is why India may announce another economic package in September or October.

India’s Economic Package Came Out of Country’s Economy

Gurumurthy said that the economic package announced by the Government of India has come out of the country’s economy, whereas the United Kingdom, Britain and other big countries have printed their currency on a large scale to deal with this economic crisis. This will create a financial deficit in their economy and increase inflation. India does not have the freedom to do so. The Reserve Bank has also not taken any decision in this direction.

India’s Situation Different From US or Europe

Gurumurthy said that our problems are different from the US or European countries. The Government of India has added Rs 15,000 crore to Jan Dhan accounts from 1 April to 15 May. But very little money has been withdrawn from those accounts. This means that there is not as deep economic crisis in the country as is being told. He said that after dealing with Covid-19, the world would change to a bilateral system instead of a multilateral system and this would give a huge boost to the Indian economy.

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