3 EM 1 – 18/07/2022

After witnessing a huge contraction in export orders for the past few months, Indian micro, small and medium enterprises (MSMEs) in the export sector will soon receive much needed relief. In an attempt to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore to provide relief to the export segment. This move is likely to benefit the employment-intensive export sectors such as leather, gems & jewelery and textiles.

President Obama’s financial bailout plan may not work. The current financial crisis is a complex problem that cannot be fixed simply by pumping more capital into the system. The innate problem is that there is too much capital, created out of thin air. The federal government is simply repeating the mistake of the American people – overspending. Spending more money does not solve the problem of overspending.