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Opinion | India should stave off corona bankruptcies

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www.livemint.com

As Indian banks brace themselves for another wave of loans turning bad, they need a good way to identify and help insolvent businesses that are not failures, just hit by the lockdown The government plans to spend ₹20 trillion to aid Indians, revive the economy, and make it self-reliant, as Prime Minister Narendra Modi announced on Tuesday.

The details of this massive package are awaited, especially the period over which this money will be spent and how funds will be raised.

The hope is that enough will be done to shore up businesses reeling under India’s lockdown. Emergency credit facilities by the central bank may have helped some firms so far, but, by most accounts, private sector enterprises are under stress.

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