The Signal: The Week Highlights

Cipla’s Remdesivir Cipremi launched in India to cost INR. 4,000: 

Cipla has launched the generic version of Covid-19 treatment drug Remdesivir at price which is among the lowest globally, Remdesivir is the only approved USFDA for Emergency Use Authorization (EUA) treatment for confirmed Covid-19 infections.

Indian pharmaceutical industry has taken centre stage as it houses the largest manufacturing capability among global pharma peers while having the ability to accelerate in its research efforts as well. India is among the key contenders as the world enters a race to develop the first vaccine against the epidemic. The Prime Minister, in the ‘India Global Week 2020’ summit, highlighted how Indian pharmaceutical industry continues to be an asset to the world. 

Banks sanction about INR. 1.14 lakh crore loans to MSMEs: FM Sitharaman: 

The MSME sector is reeling under the economic slowdown cause by Covid-19. This was under Emergency Credit Line Scheme (ECLGS) for the MSME sector.

The scheme is the biggest component of the INR 20 lakh crore package announced under ‘Atmanirbhar Bharat Abhiyan’ by Modi government. The liquidity infusion is expected to release some of the pressure MSMEs are reeling under.

Government to announce measures to boost demand; Fiscal, Monetary headroom available:

Asserting the economic activity is steadily coming back on track, Principal Economic Adviser Sanjeev Sanyal said that government will undertake measures to boost demand and there is both monetary and fiscal headroom available. 

A new set of measures announcement after opening up of the economy is expected to ensure a transmission more effective than the measures launched in during lockdown. As the Indian economy reveals green shoots of recovery, government aid could prove to be the much-needed catalyst to expedite the process