Question

money problem because of covid 19 (500 word) for example why people need money

Answer 1

Every sector need monney. But bring a pandemic the economy is in deep ressescion.

As the COVID-19 pandemic spreads across the globe, cash-in-hand has become important again. This is because myriad investments across sectors now lie in uncertain terrain. Adding to everyday woes is the fact that many companies are considering layoffs or delayed salaries. Access to one’s own savings has become a luxury. Here’s how you can get your moolah in these dire times.

This all-weather fund is most helpful during times of crisis. Retirement fund body EPFO claims that it processes all KYC compliant applications within 72 hours. During the lockdown itself, it has settled 1.37 lakh provident fund withdrawal claims worth Rs 280 crore to provide relief to subscribers.

The IT department has announced that it will be issuing pending IT refunds up to Rs 5 lakh as soon as possible to individuals and businesses in the wake of COVID-19 pandemic.

The indirect tax wing also announced that it will release all GST and customs refunds to MSMEs. This will put money in the hands of small businesses, thus releasing more money in the economy.