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Measures to Boost Industrial Growth Rate Industrial growth depends on a number of factors including structural, external, fiscal and industrial factors. The moderation in Indias industrial growth coincides with deceleration in growth of global output. The sudden outbreak of COVID-19 has severely
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FAQ :
Industrial growth depends on structural, external, fiscal, and industrial factors.
The COVID-19 pandemic has severely impacted major economies, including the USA, European Union, and the UK, leading to a contraction in global GDP estimates and affecting various sectors due to lockdowns.
Relief measures for MSMEs include a collateral-free lending program with 100% credit guarantee, subordinate debt for stressed MSMEs, partial credit guarantee for financial institutions, and a Fund of Funds for equity infusion.
Regulatory changes include postponing tax-filing and compliance deadlines, reducing penalty interest rates for overdue GST filings, and faster clearing of MSME dues.
Structural reforms include deregulation of the agricultural sector, a new definition for MSMEs, a new PSU policy, higher FDI limits in defence and space, and development of industrial land banks.
The government is promoting districts as export hubs by identifying products with export potential, addressing bottlenecks, and supporting local exporters and manufacturers.
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