Prime Minister Narendra Modi has hailed the Reserve Bank of India for the measures to revive the economy, in the midst of the coronavirus pandemic. Modi in a tweet said the measures will enhance liquidity and improve credit supply, thus helping small businesses.
Today’s announcements by @RBI will greatly enhance liquidity and improve credit supply. These steps would help our small businesses, MSMEs, farmers and the poor. It will also help all states by increasing WMA limits.
— Narendra Modi (@narendramodi) April 17, 2020
“Today’s announcements by the RBI will greatly enhance liquidity and improve credit supply,” Modi said. “Today’s announcements by the RBI will greatly enhance liquidity and improve credit supply. These steps would help our small businesses, MSMEs [micro, small and medium enterprises], farmers and the poor. It will also help all states by increasing WMA [ways and means advances].”
Reacting to the RBI measures Senior Congress leader Ajay Maken claimed the measures announced by the RBI would not help all those who are suffering due to the crisis caused by the virus and said the country’s central bank should introduce more measures.
“The announcements made by the RBI have no meaning. The Congress and people are disappointed with the announcements. The government should take more measures to mitigate the problems of the poor and the vulnerable,” he said at a press conference held via video link.
