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Economic package won't fully offset negative impact of Covid-19: Moody's

While these measures will help ease asset risks for the financial sector, they will not fully offset the negative impact from the coronavirus outbreak, Moody's said

Topics
Indian Economy | Economic stimulus | Coronavirus

BS Web Team & Agencies 

Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 trillion-economic package will help ease their asset risk, but will not fully offset the negative impact from the Covid-19 outbreak.

The government last week announced a support package of Rs 3.70 trillion for micro, small and medium enterprises (MSME) sector, Rs 75,000 crore for non-banking financial companies (NBFCs) and Rs 90,000 crore for power distribution companies. This is part of the overall economic package announced by the government over last ...

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First Published: Tue, May 19 2020. 11:26 IST
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