The ongoing trade battle between the United States and China has led to world wide economic slowdown and this has had its effect on the Indian economy too. But, the Indian government led by Prime Minister Narendra Modi has been taking effective and bold steps to revitalise the economy, said Union Minister of State for Home G. Kishan Reddy on Friday.
At the maiden ‘Customer Outreach Programme’ for expansion of credit to the needy segments like retail, agriculture sector and MSMEs for Hyderabad district, he said the government has eased norms for issuing loans and has also provided relief in income tax slabs to benefit large sections of people to reinvigorate the economy.
“All the eligible and genuine persons in need of financial assistance will get loan. In the first round, we have targeted loan disbursal worth ₹500 crore for about 3,000 persons during the two-day programme at a private function hall at Masab Tank,” he said.
Stating that loan melas were being held countrywide, Mr. Reddy advised the eligible beneficiaries to make use of the opportunity and take loans and also ensure that they pay them on time so that the financial institutions would be in a position to extend the same facility to more number of people.
