Even as the world is reeling from the impact of the pandemic, India is recovering with fresh energy and making bold plans for the future. The national lockdown dramatically dampened the disease’s exponential growth rate and gave the country time to prepare. Moreover, the RBI has cut rates by 115bps and pumped in more than ₹9 lakh crore in liquidity into the financial system; ₹3 lakh crore have been made available as guaranteed collateral-free loans for MSME borrowers. This will likely generate over ₹4 lakh crore of revenues for domestic defence producers in the next few years. Meanwhile, India has seized control of its destiny and is marching resolutely toward the post-pandemic future.

Source: The Hindu August 21, 2020 18:22 UTC