Aatmanirbhar Bharat first economic package was released by the Government of India five months ago. Though the COVID-19 positive cases are falling, the government is working on the next stimulus package to support the economy sources from the ministry said. The economic stimulus package was rolled out to support the economy against the damage caused by the coronavirus pandemic-related nationwide lockdown. INR 21 Lakh crore worth monetary and fiscal support were provided to the people. INR 21 lakh crore is equivalent to 10 per cent of the country's gross domestic product (GDP).

Banks have sanctioned INR 1.87Lakh Crore to 50.7 MSMEs under Credit Guarantee Scheme

In avirtual conference, economic Affairs Secretary Tarun Bajaj has said The government has received suggestions from various ministries and sectors on needed measures, the FM Nirmala Seetharaman hinted at the possibility of a second stimulus package to revive the economy, Indian Governments special assessment on GDP, RBI report stating 9.5% GDP contraction, few economist felt Aatmanirbhar Bharat package provided only a very little rescue to the economy, IMF projection of economic contraction by 10.3% hints us another economic stimulus package is under preparation. We have to wait for the Government to announce. 

MSMEs may shut down permanently in Karnataka

Earlier in Aatmanirbhar Bharat package, the FM has announced loan guarantees worth INR 4.5 lakh crore to help micro, small and medium enterprises (MSMEs), non-banking financial companies and power distribution firms to have access to collateral-free loans from banks however the MSMEs struggling to pay debt and reopen due to factors like non-availability of labour is expecting direct cash benefits instead of collateral-free automatic loans. 

The government of Kerala initiates a website for MSME industries; know the reason