September 20, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Vaccine only way for eco recovery: FM

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, Vaccine only way for eco recovery: FM, The World Live Breaking News Coverage & Updates IN ENGLISH
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, Vaccine only way for eco recovery: FM, The World Live Breaking News Coverage & Updates IN ENGLISH
, Vaccine only way for eco recovery: FM, The World Live Breaking News Coverage & Updates IN ENGLISH

CHENNAI: Finance minister Nirmala Sitharaman on Sunday underlined the need for vaccination to not just help avert a possible third wave of Covid infections but also to step up economic activity, describing it as the only medicine that allows people to go about their business.
“Vaccination has been going on smoothly in the country and, so far, 73 crore people have already received jabs… Through the programme, people were able to conduct business, traders were able to procure products to run businesses, boosting the economy, or farmers were able to do farming. So, vaccination is the only medicine,” she said at the centenary year celebrations of the Tuticorin-based Tamilnad Mercantile Bank (TMB).
Sitharaman’s team of economists in the finance ministry has repeatedly pushed for a ramp-up of vaccination for faster economic growth.
On Sunday, the FM said that the support through viability gap funding will also help bolster the healthcare system to deal with a possible third wave. “Through the report by TMB, we are able to see that they take the schemes announced by the ministry to the beneficiaries (such as hospitals)… Not only public sector banks, private sector banks should also follow,” she said while asserting that every individual is entitled to banking service.
The FM also said that public sector banks appeared to be stable now. “The problems faced by the banking sector affects the business dependent on the banks too. With increased bad loans leading to the government bailing out the banks through developmental or growth finance, the banks’ energy and resources were diverted towards recovery of loans,” she said.

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