Steps taken by the Government of India to revive economy.
                     Steps taken by the Government 
of India to Revive Economy
BIG HOPES
 Big hopes are pinned on Union Finance Minister 
Nirmala Sitharaman as India faces an economic 
slowdown and the responsibility to combat growth 
challenges falls on the Finance Ministry. To spur 
business growth, Sitharaman provided a shot in the 
arm to two most stressed sectors - Real Estate and 
Exports. 
Source: Google Images
FINANCIAL AID
 The government will infuse INR 20,000 crore 
affordable housing package to benefit around 
3.5 lakh home owners. The government has 
proposed a special financing window in a bid 
to restore stuck housing projects.
Source: Google Images
NIIF
 The government will invest INR 10,000 crore under 
National Investment Infrastructure Fund (NIIF) 
whereas the rest of the investors like LIC and SWF 
(Sovereign Wealth Funds) will put in the rest balance 
of INR 10,000 crore. According to a press release by 
the Finance Ministry, the package announced will 
help extricate more than a third of such distressed 
homeowners.
Source: Google Images
AUTOMATED ELECTRONIC REFUND SYSTEM
 The government will provide automated electronic 
refund system for paying GST credits to 
businesses; the move will be implemented by 
September 2020, which now may be delayed due 
to the implications of the economy due to the 
COVID-19 outbreak. 
Source: Google Images
RODTEP
 The government announced the introduction of a 
new scheme for remission of duties or taxes on 
export product (RoDTEP) to replace the existing 
Merchandise Exports from India Scheme (MEIS) from 
January 1 next year and revised priority sector 
lending norms for export credit that will release an 
additional INR 36,000 crore to INR 68,000 crore as 
export credit under priority sector. 
Source: Google Images
EXPORT GUARANTEE
 Granting relief to MSMEs , government also made a 
statement regarding Export Credit Guarantee 
Corporation (ECGC) will increase the scope of 
Export Credit Insurance Service to offer higher 
insurance cover to banks lending working capital 
for exports. This is expected to reduce overall cost 
of export credit including interest rates, especially 
to MSMEs. 
Source: Google Images
MEGA SHOPPING FESTIVALS
 Dubai-like annual mega shopping festivals are 
proposed to be organized in 4 places in India 
across March 2020 in 4 themes (gems & 
jewellery, handicrafts, yoga, tourism, textile and 
leather). This can help to boost trade in the retail 
sector, which will be beneficial for the economy 
and create new jobs.
Source: Google Images
ECONOMIC SLOWDOWN
 After a wide slump in the Gross Domestic Product 
figure that stood at 5 per cent, the government has 
been reeling under the pressure of slow demand, 
an ailing automobile industry and small and 
medium battered by the impact of Goods and 
Services Tax and demonetization, which led to an 
extreme crunch in liquidity in the market. 
Source: Google Images
GOVERNMENT IS CONFIDENT
 Tax laws last month pushed foreign investors away 
and the stock markets suffered massive losses as 
institutional investors pulled back investments. The 
government is confident of these fresh proposals to 
show early signs of the economic pick up, which the 
Finance Ministry note said is expected in the coming 
quarter. 
Source: Google Images