New Delhi: Due to the economic downturn in the country, the condition of business has deteriorated. All the surveys are giving negative news about the economic health of the country. But the government is refusing to accept any such thing. In this episode, the country's largest bank SBI has given a suggestion to the government. The bank said that instead of adopting a soft monetary stance, the government should focus on increasing demand especially in rural areas. The bank said in its research report that only the reduction in policy rates will do nothing to end the sluggishness of the economy.
For this, the government will have to go ahead and spend money through the National Rural Employment Scheme to increase the demand in rural areas. Economists at the bank cautioned that any reduction in spending to control fiscal deficit would not be appropriate in view of the increase. The report said that the current sluggishness of the economy cannot be resolved only by measures in monetary policy. According to the report, the government will have to stop the demand reduction in the MNREGA and PM-Kisan in the beginning. According to the PM-Kisan Portal, the number of beneficiaries of this scheme is still 6.89 crore, while the target is 14.6 crore. Actually, the demand in the markets will increase only after the money comes in the rural economy.
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