The government on Friday informed the Supreme Court that "it's not possible to give more relief to different sectors" amid the novel coronavirus pandemic, stressing that the "courts should not interfere in fiscal policy". The centre's response came days after the top court said the government's last week's affidavit on waiving "interest on interest" on loans of up to Rs 2 crore - frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic - was "not satisfactory". In its latest affidavit, the government has said: "Policy is the domain of the government and court should not go into sector-specific financial relief. Any further relief, besides waiving of compound interest for loans up to Rs 2 crore, is detrimental to the national economy and banking sector."

The government on Friday informed the Supreme Court that "it's not possible to give more relief to different sectors" amid the novel coronavirus pandemic, stressing that the "courts should not interfere in fiscal policy". The centre's response came days after the top court said the government's last week's affidavit on waiving "interest on interest" on loans of up to Rs 2 crore - frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic - was "not satisfactory". In its latest affidavit, the government has said: "Policy is the domain of the government and court should not go into sector-specific financial relief. Any further relief, besides waiving of compound interest for loans up to Rs 2 crore, is detrimental to the national economy and banking sector."