949 The Rs 1.1 lakh crore loan guarantee scheme for the pandemic-hit sectors. Representational photo
The Central Government has announced a slew of measures as part of a stimulus package aimed at revitalising the economy, which has been left battered by the second wave of Covid-19. Things had started looking up earlier this year as the January-March quarter witnessed a GDP growth of 1.6 per cent, but the havoc wreaked by the virus in April-May negated the gains. Now, with the daily caseload dropping to less than 40,000 and millions of vaccine doses being given every day, this is an opportune time to step up economic activity and restore it to pre-Covid levels. The Rs 1.1 lakh crore loan guarantee scheme for the pandemic-hit sectors, including Rs 50,000 crore for the top-priority health sector, is expected to provide much-needed liquidity support. However, economic recovery will be patchy unless adequate attention is paid to job creation and revival of livelihoods.
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