The COVID-19 pandemic has caused significant disruptions to economies across the globe. The pandemic has forced every country to lockdown and Governments all over the world are announcing relief measures to support their citizens. India’s lockdown is gradually being relaxed with some COVID-19 relief measures as the economic cost of the lockdown is overpowering the need for complete social isolation to arrest further spread.
The post lockdown period is going to be a period of uncertainty and severe challenges, especially for businesses that will have to face a battle for sustaining themselves and their survival. Businesses will need support and a roadmap towards recovery. Consequently, a special COVID-19 relief package of Rs. 20 Trillion was unveiled by the Finance Ministry of the Indian Government from 13th May 2020 to 17th May 2020.
The COVID-19 relief stimulus aims to make India an “Atmanirbhar Bharat” i.e. a self-reliant India. The financial stimulus accounts for almost 10% of India’s GDP and is designed to surround – Land, Labour, Liquidity, and Laws.
While the relief measures announced by the Government are well documented, our team at In.Corp has analyzed and summarized the impact of these reliefs and reforms on businesses in different sectors.