The Union cabinet on Monday approved the road map for implementing the micro, small and medium enterprises (MSMEs) and street vendor packages that were announced last month as part of the ₹20 trillion economic stimulus.
By doing do, it has set in motion efforts to replace the demand that was lost after the economy went into a 68-day hard lockdown, which is now being gradually withdrawn.
Together with the above-normal monsoon forecast and the increase in purchase prices for summer crops, both of which will likely boost farm incomes, it is expected to provide a demand stimulus that will complement the supply-side measures undertaken recently.