World will shift from multilateralism to bilateralism in the post-COVID era: RBI Director S Gurumurthy

The Centre is likely to announce the final stimulus package in the “post-COVID era” in September or October, Gurumurthy said on June 16.

RBI Director S Gurumurthy said that in the post-COVID era, the world will shift from “multilateralism to bilateralism”, and revival of the Indian economy will be faster.

The Centre is likely to announce the final stimulus package in the “post-COVID era” in September or October, Gurumurthy said on June 16.

Speaking at a webinar organised by the Bharat Chamber of Commerce, Gurumurthy said the package of more than Rs 20 lakh crore announced by the central government can be described as an interim measure.

“The final stimulus package is expected to be announced in the post-COVID era which may be in September or October,” the RSS ideologue said.

related news

The chartered accountant said India has come up with the package using money generated by the economy. “Unlike the European nations and the US, which have been printing money by monetising deficit, there is little scope for India to do that,” he said. Gurumurthy said the central bank has not yet taken any view on monetising deficit.

“India is now facing diverse problems. The government has deposited Rs 16,000 crore in the Jan Dhan bank accounts from April 1 to May 15.”

“It is surprising to note that there has been little withdrawal from those deposits. This only shows that the level of distress is not to that extent,” Gurumurthy said.

Moneycontrol Ready Reckoner

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Join the Moneycontrol Rule the New Normal powered by Lenovo webinar on the 18th of June. REGISTER NOW!

First Published on Jun 17, 2020 12:47 pm


Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top