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Economic Survey calls for more short-term fiscal support
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SME Times News Bureau | 29 Jan, 2021
The Economic Survey for 2020-21 has suggested that the government should
come up with more fiscal measure for short term support to the economy
and businesses.
Highlighting the long term reform measures, the
survey tabled by Finance Minister Nirmala Sitharaman in Parliament on
Friday, also said that to eliminate the possibility of growth being
impacted in the medium to long run, the Government has been extremely
pro-active in launching several seminal reforms, but noted that their
impact will manifest in the medium to long-term only.
It
suggested that to ensure that the economy remains in good health to
avail the full benefit of these significant reforms, the "economic
bridge" between the medium and long-term has to be created.
"Only
an active fiscal policy -- one that recognises that the risks from
doing too little are much more than the risks from doing too much -- can
ensure that this 'economic bridge' is well laid out," he said.
Although,
the government has taken several measures to support and provide relief
to businesses, steps to push demand have been lagging, according to
several economists. Supply-side push, however, have been appreciated.
Further,
the issue has been raised at several forums by several industry
representatives that, although the reforms measures are welcome. They
would reflect changes only in the long run, while the businesses and the
common man need some immediate cushioning.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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