(Pooja Dubey, Intern Journalist) The Reserve Bank of India has expanded the rules for Priority Sector Lending. This will help start-ups and the renewable energy sector. Under the new rules, start-ups will now get loans of up to 50 crores. At the same time, the loan limit for the solar plant and biogas for the farmers has been doubled.
To give a boost to the staggering economy, the RBI has increased the lending limit to promote rural areas and other sectors including start-ups. It also includes health infrastructure. The debt limit in the government scheme Ayushman Bharat has been doubled, which has now increased to 10 crores. This will strengthen health facilities in Tier-2 to Tier-4 cities.
Recently, the country’s GDP data has been released, which has seen a decline of 23.9 percent. But this quarter, the only agricultural sector grew by 3.4 percent. In such a situation, the government is of the view that the agriculture sector can help in improving the economy.
Although State Bank of India (SBI) chief economist Soumya Kanti Ghosh has said that ‘better agricultural performance was already expected, as the sector was less restricted during the lockdown, but the transition of coronavirus to the villages is now accelerating Is spreading from, Therefore, the performance of the agriculture sector may be poor in the second quarter.’
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